WASHINGTON (dpa-AFX) - Xcel Energy (XEL) said it will sell the Mankato Energy Center, a 760-megawatt plant power plant, to Southwest Generation for $680 million. The company plans to use the net gain on the sale to fund its corporate giving efforts, including support related to COVID-19 recovery. Xcel Energy purchased the plant in early 2020 through a non-regulated affiliate company.
Xcel Energy expects the sale to close in the third quarter of 2020. The sale is not expected to have a material impact on short or long-term earnings, the company noted.
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