Southern Power to Acquire Two Natural Gas-Fired Units in Minnesota

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Southern Power, a unit of Southern Co. (NYSE: SO), will acquire two natural gas units in Minnesota from Calpine Corp (NYSE: CPN).

The transaction includes the 375-MW Mankato Energy Center I and the planned 345-MW Mankato Energy Center II expansion, which is currently under development. 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 expansion project is scheduled for operations in June 2019 to serve an additional 20-year power purchase agreement with Northern States Power.

With the addition of the Mankato Energy Center, Southern Power will own 10 combined-cycle and combustion-turbine natural gas-fired power plants in five states representing 9,300 MW of generating capacity either operating or under development.

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