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Xcel Energy seeks FERC approval for acquisition of plant from Southern Power

Xcel Energy Inc. has filed for approval with the Federal Energy Regulatory Commission of the acquisition of the Mankato combined-cycle power facility from Southern Power Co.

The $650 million deal was announced in November.

Mankato currently operates at a capacity of 377 MW, according to S&P Global Market Intelligence data, with another 200-MW expansion of the plant currently under construction.

The facility sells its output to Xcel Energy subsidiary Northern States Power Co. - Minnesota under long-term power purchase agreements.

Xcel Energy has characterized the Mankato acquisition as a strategic move to prepare for power plant retirements and contract expirations planned for the mid-2020s.

Xcel Energy has asked the commission to approve the transaction by March 15, 2019. The transaction is expected to close by mid-2019.

Southern Power is a Southern Co. subsidiary. (FERC docket EC19-38)