PE firm in talks to buy Atlantica Sustainable Infrastructure - report
May 03, 2024 14:36 CESTUS utility Xcel Energy (NASDAQ:XEL) has launched a request for proposals (RFP) for 650 MW of solar and solar-plus-storage projects to replace a coal-fired power plant in Wisconsin, near the border with Minnesota.
The competitive round, touted as one of northwest Wisconsin’s largest calls for clean energy capacity, comes ahead of the planned closure of the Allen S King thermal power station in 2028. The targeted capacity should become operational between 2027 and 2029.
Under the plan, Xcel will use existing grid connections at the King complex. It estimates that the new photovoltaic (PV) parks will generate enough electricity to meet the demand of around 135,000 homes annually on average.
When the solar farms go online, Xcel will be able to slash its carbon dioxide (CO2) emissions in the region by 85% by 2030 from 2005 levels. The utility’s Upper Midwest Energy Plan calls for over 80% of the power it supplies in the region to be carbon-free by the end of the decade, with all of its coal-fired plants due to be shuttered by the same year.
Xcel Energy noted it is working with state and local communities to explore potential future uses of the King plant site after its retirement.
PE firm in talks to buy Atlantica Sustainable Infrastructure - report
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