Minnesota regulator approves Xcel Energy's $400M solar project expansion plan
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The Minnesota Public Utilities Commission on Thursday approved Xcel Energy's (NASDAQ:XEL) expansion plans for the Sherco solar project, which will include adding a 250 MW array to a 460 MW array now under construction.
The expansion will cost $406M, bringing Xcel's (XEL) total spending on the project to more than $1B, the utility said, adding the total 710 MW project will be enough to power more than 150K homes annually.
Upon completion, which the company anticipates in 2025, the new power will replace electricity generated by a nearby coal-fired plant that is set to be closed later this year.
The Minnesota PUC also approved a plan for Xcel (XEL) to buy electricity from a planned 100 MW solar project in Wisconsin.

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