PUEBLO, Colo. – Xcel Energy has announced a partnership to develop a 2 40-megawatt solar plant at a Pueblo steel plant.
The plant will be located at the EVRAZ Rocky Mountain Steel plant. Lightsource BP will finance, build and own the "Bighorn Solar" plant and sell the energy to Xcel under a long-term power purchase agreement, the three companies said in a statement Friday.
The companies said "the project provides EVRAZ North America with predictable electricity prices and allows the factory, which employs around 1,000 workers, to live in Pueblo."
No prices were disclosed in the announcement, although the companies said the agreement provides EVRAZ with fixed prices through 2041.
The Colorado Public Utilities Commission must conduct a final review of the deal.
The $ 250 million facility sold is expected to create about 300 jobs and generate about $ 22 million in property tax revenue, according to the companies. to start operations by the end of 2021.
Xcel designated project is part of the goal of delivering 55 percent renewable energy to the grid by 2026 and reducing carbon emissions by 60 percent.