Xcel Energy and Lightsource bp Advance Colorado’s Clean Energy Future with Second Large-Scale Solar Project

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PUEBLO, Colorado – (COMMERCIAL THREAD) – Xcel Energy and Lightsource bp today announced the development of a new 298 megawatt solar farm in Pueblo, Colorado. The project is Lightsource bp’s second in the city with electricity sales to Xcel, representing a cumulative private investment of half a billion dollars in Colorado’s clean energy infrastructure.

Lightsource bp will finance, construct, own and operate the facility and supply the solar power it generates to Xcel Energy under a long-term power purchase agreement. Construction on the project is expected to begin before the end of 2021.

Kevin Smith, CEO, Lightsource bp, Americas: “Lightsource bp continues to expand its investment in Colorado’s clean energy future. As longtime members of the Pueblo community, we are delighted that this project further contributes to the local jobs ecosystem and tax base while providing profitable renewable energy for decades to come.

Alice Jackson, President of Xcel Energy – Colorado: “Xcel Energy is thrilled to be working with Lightsource bp on another major solar project in Pueblo that adds even more renewable energy to our system, while creating jobs in the community. This collaboration is a victory for Pueblo and for the State of Colorado and demonstrates our commitment to communities as we lead the energy transition. We will continue to explore new innovative projects that benefit our clients. ”

The Sun Mountain Solar The farm will reduce 404,080 tonnes of CO2 per year, the equivalent of taking more than 87,000 cars off the road each year. In addition, the project will create 300 jobs during construction, which will be mainly occupied by locals.

Sun Mountain’s power purchase agreement complements Xcel Energy’s broader energy plan for Colorado to deliver 55% renewable energy to the grid and reduce carbon emissions by 60% by 2026. It also supports Colorado’s clean energy goal of cutting statewide emissions by 26% by 2025, 50% by 2030, and 90% by 2050 – creating cleaner, healthier communities throughout Colorado while contributing to local economies.

Will Toor, Executive Director, Colorado Energy Office: “The Sun Mountain Solar Farm once again illustrates thoughtful partnerships that continue to create jobs and clean infrastructure in southern Colorado. Our state enjoys 300 days of sunshine each year and I am delighted to see regional collaboration occur to capture our state’s great natural resources. These and other recent projects in the region are significant initiatives to meet the state’s ambitious greenhouse gas emissions targets, while creating cleaner, healthier communities – and helping the local economy.

Bighorn Solar, Lightsource bp’s first Pueblo project to power the EVRAZ Rocky Mountain Steel plant, is providing an additional 300 MW of solar power to Xcel Energy. In total, the two projects will contribute $ 48 million in property tax payments to Pueblo over their lifetime. And at the Sun Mountain and Bighorn solar parks, Lightsource bp installs and maintains a total of over 3,000 acres of shortgrass prairie, creating habitat for wildlife while enhancing the sites’ ability to sequester carbon.

Nick Gradisar, Mayor of Pueblo, Colorado: “I am delighted that Lightsource bp is partnering again with Xcel Energy on the Sun Mountain solar field in Pueblo. The construction work will greatly benefit Pueblo and the surrounding community, and the end product will help reduce our carbon footprint. Pueblo is rapidly becoming Colorado’s renewable energy hub and Lightsource bp is one of the reasons. ”

About Xcel Energy

Xcel Energy (NASDAQ: XEL) provides the energy that powers millions of homes and businesses in eight states in the West and Midwest. Based in Minneapolis, the company is an industry leader in the responsible reduction of carbon emissions and the production and delivery of clean energy solutions from a variety of renewable sources at competitive prices. For more information visit xcelenergy.com or follow us on Twitter and Facebook.

About Lightsource bp

Lightsource bp is a world leader in the development and management of solar energy projects and a 50/50 joint venture with bp. Our goal is to provide affordable and sustainable solar power to businesses and communities around the world. Our team includes more than 500 industry specialists, working in 15 countries. We ensure the full development of our projects, from the initial site selection, financing and authorization to the long-term management of solar projects and the sale of electricity to our customers. Lightsource bp in the United States is headquartered in San Francisco with development offices in Denver, Philadelphia, Atlanta and Austin. For more information, please visit lightsourcebp.com.


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