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Xcel Energy Sells Natural Gas-Fired Plant for $680M

Xcel Energy, the first large investor-owned utility to set a goal of 100 percent carbon-free energy by 2050, has announced its intention to sell the Mankato Energy Center, a 760-megawatt natural gas-fired power plant located southwest of Minneapolis. The announcement comes just three months after Xcel Energy had acquired the facility from Atlanta-based Southern Co. for $650 million. Now it will sell it to Denver-based Southwest Generation for $680 million. The deal is anticipated to close in the third quarter, without material impact on short- or long-term earnings, according to the utility.