Xcel Energy Inc. (NYSE:XEL) plans to build a 17-megawatt photovoltaic solar power plant in Colorado using cells from SunPower Corporation (NASDAQ:SPWR-A). The plant is expected to be completed by the end of 2010, and the report says this will be the second-largest solar PV plant in North America.
Construction of the plant will employ about 200 people, and is contingent on approval from the state’s Public Utility Commission and “project financing.” That financing most likely will come at least partially from federal stimulus money, although neither Xcel nor SunPower referred to the cost or the financing of the project.
Xcel shares are trading off about 1% this morning, and SunPower is down more than 2%.
Paul Ausick
April 7, 2009
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