M&A Deal Summary

Xcel Energy Acquires Mankato Energy Center

On November 6, 2018, Xcel Energy acquired utilities company Mankato Energy Center from Southern for 650M USD

Acquisition Highlights
  • This is Xcel Energy’s 3rd transaction in the Utilities sector.
  • This is Xcel Energy’s largest (disclosed) transaction.
  • This is Xcel Energy’s 4th transaction in the United States.
  • This is Xcel Energy’s 1st transaction in Minnesota.

M&A Deal Summary
Date 2018-11-06
Target Mankato Energy Center
Sector Utilities
Buyer(s) Xcel Energy
Sellers(s) Southern
Deal Type Divestiture
Deal Value 650M USD

Target

Mankato Energy Center

Mankato, Minnesota, United States
Mankato Energy Center LLC is a natural gas combined-cycle generation facility, will have a maximum capacity of approximately 760 megawatts upon completion of an ongoing expansion project. The completion of the sale, subject to regulatory approval and other closing conditions, is expected to be mid-2019.

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Buyer(S) 1

Buyer

Xcel Energy

Minneapolis, Minnesota, United States

website

Category Company
Founded 1909
Sector Utilities
Employees11,367
Revenue 15.3B USD (2022)
DESCRIPTION

Xcel Energy is a U.S. electric and natural gas company. Based in Minneapolis, Minnesota, the company operates in eight states and provides a comprehensive portfolio of energy-related products and services to 3.4 million electricity customers and 1.9 million natural gas customers. Xcel Energy was founded in 1909 and is based in Minneapolis, Minnesota.

DEAL STATS #
Overall 4 of 4
Sector (Utilities) 3 of 3
Type (Divestiture) 2 of 2
State (Minnesota) 1 of 1
Country (United States) 4 of 4
Year (2018) 1 of 1
Size (of disclosed) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2013-03-19 Brush Power Assets

United States

Centennial Power's Brush power generation assets.

Buy $75M

Seller(S) 1

SELLER

Southern

Atlanta, Georgia, United States

website

Category Company
Founded 1945
Sector Utilities
Employees27,700
Revenue 29.3B USD (2022)
DESCRIPTION

Southern is a premier energy company serving the Southeast through its subsidiaries. A U.S. producer of clean, safe, reliable and affordable electricity, Southern Company owns electric utilities in four states and a growing competitive generation company, as well as fiber optics and wireless communications. Southern was founded in 1945 and is based in Atlanta, Georgia.

DEAL STATS #
Overall 5 of 6
Sector (Utilities) 3 of 4
Type (Divestiture) 4 of 5
State (Minnesota) 1 of 1
Country (United States) 5 of 6
Year (2018) 3 of 3
Size (of disclosed) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-05-23 Southern - Solar Portfolio

Atlanta, Georgia, United States

Southern Co. - Solar Portfolio of projects involved in this transaction is comprised of 26 operating solar facilities representing approximately 1.7 gigawatts of capacity. The energy from these facilities is sold under long-term contracts with valued customers across the country.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-01-01 Gulf Power

Pensacola, Florida, United States

Gulf Power Co. is an energy provider serving nearly half a million customers across Northwest Florida. Our team works hard to provide our customers with reliable and environmentally responsible energy, to offer innovative energy services and solutions, and give back to the communities we also call home.

Sell -
Mergr

Product

Company

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