Xcel Energy, Sunpower to build 50-megawatt solar power plant

Xcel Energy (XEL) and SunPower (SPWR) have signed a power purchase agreement to construct a 50-megawatt solar photovoltaic power plant in Colorado's San Luis Valley.

"This expansion of our renewable portfolio in Colorado is yet another example of how Xcel Energy brings solar power to its customers in the right way," declares CEO of Xcel Energy David Eves.

The company predicts the plant will generate enough electricity for approximately 13,500 average Colorado homes. Xcel Energy currently supplies energy-related products and services to 3.5M customers. Construction is set to start in 2015, and to be fully operational by the end of 2016.

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