By Editors of Power Engineering
Southern Power, a subsidiary of Southern Company, has completed the purchase of the Mankato Energy Center from Calpine Corporation.
The Mankato, Minnesota-based facility consists of the 375-MW Mankato Energy Center I and the 345-MW Mankato Energy Center II expansion under development. The second unit is expected to be operational by June 2019.
The closing price was $395.5 million, plus working capital and price adjustments.
Southern Power now owns 10 combined-cycle and combustion-turbine, natural gas-fired power plants across five states, representing 9,300-MW of generating capacity operating or under construction.
Mankato Energy Center I is a natural gas-fired, combined-cycle facility contracted with Northern States Power, a subsidiary of Xcel Energy, through 2026. The Mankato Energy Center II expansion will serve an additional 20-year power purchase agreement with Northern States.
