Southern Power, a leading U.S. wholesale energy provider and subsidiary of Southern Company, completed the previously announced sale of the Mankato Energy Center to Xcel Energy for $650 million, subject to customary working capital adjustments.
“Southern Company and Southern Power have the utmost gratitude for those who worked to safely construct the second gas turbine and operate the entire site over the years,” said Southern Power President Bill Grantham.
Barclays served as the financial advisor, and Baker Botts served as primary legal counsel to Southern Power for the transaction.
About Southern Power
Southern Power, a subsidiary of Southern Company, is a leading U.S. wholesale energy provider meeting the electricity needs of municipalities, electric cooperatives, investor-owned utilities, and commercial and industrial customers. Southern Power and its subsidiaries own 49 facilities operating or under construction in 12 states with more than 10,590 MW of generating capacity in Alabama, California, Delaware, Georgia, Kansas, Maine, Nevada, New Mexico, North Carolina, Oklahoma, Texas and Washington.