Xcel Energy to Sell Mankato Energy Center, Net Gain on Sale to Support Corporate Giving and Response to COVID-19
Xcel Energy Inc. (XEL)
Last xcel energy inc. earnings: 1/30 06:00 am
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Source: Business Wire
MINNEAPOLIS--(BUSINESS WIRE)--Xcel Energy announced today it will sell the Mankato Energy Center, a natural gas-fired power plant, to Denver-based Southwest Generation for $680 million, and plans to use the net gain on the sale to fund its corporate giving efforts, including support related to COVID-19 recovery. The 760-megawatt plant will continue to provide electricity to the company’s Upper Midwest customers.“This is an unprecedented time, and we want to do our part to support our communities as we face the challenges brought on by the COVID-19 pandemic,” said Ben Fowke, chairman and CEO, Xcel Energy. “The Mankato Energy Center and its workforce provides essential services for local and regional economies and that will not change. And now more than ever, the people we serve need safe, reliable, affordable power.”“Southwest Generation is excited to add the Mankato Energy Center to our growing portfolio. The plant is a key part of the transition to a lower carbon grid and we’re p
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