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)