Xcel Energy seeks proposals for 500 MW of new solar projects in Minnesota
Post date: 12/01/2021 - 10:06
US public utility Xcel Energy Inc, is seeking proposals to build about 500 MW of new large-scale solar facilities near its subsidiary Northern States Power's existing Sherburne County Plant (Sherco) in Becker, Minnesota. Xcel Energy said it is looking to buy projects developers build and that proposals offering a power purchase agreement will not be accepted, according to S&P Global Market Intelligence.
The solicited build-transfer proposals will allow the utility company to take 100 percent ownership of a project on the commercial operation date, or prior to that date. The solar projects are part of Xcel Energy's plan to wean its utilities from coal-fired power. The new solar installations are expected to be operational by 2024, following the retirement of the Sherco coal unit. The company plans to fully retire all coal operations in the state by 2030, says the consultancy.