February 21 (Renewables Now) - The Public Service Commission (PSC) of Wisconsin on Thursday approved two utilities’ planned acquisition of 150 MW of solar power generating capacity in the state.
Specifically, the PSC allowed Wisconsin Electric Power Co (WEPCO), a unit of WEC Energy Group Inc (NYSE:WEC), and Madison Gas and Electric (MGE), part of MGE Energy Inc (NASDAQ:MGEE), to buy the second 150-MW phase of the 300-MW Badger Hollow solar project being developed by Invenergy LLC in Iowa County, near the villages of Montfort and Cobb. The two parties were already cleared to own the initial 150-MW phase of the project.
According to documents filed with the PSC, the two utilities will pay about USD 207.6 million (EUR 192m) in total for their latest purchases, including allowance for funds used during construction (AFUDC). The transaction also covers an associated generation tie line.
MGE confirmed in a statement that it will acquire 50 MW of the second phase, adding to the 50 MW it has already been approved to own in the initial phase of the project. This leaves two-thirds of the plant’s total capacity to WEC Energy’s subsidiary.
Badger Hollow’s Phase I is currently under construction and is expected to be completed this year. The second phase, in turn, should become operational in 2021.
(USD 1.0 = EUR 0.925)