Colorado PUC reverses decision to block Xcel settlement for solar gardens

July 1 – The Colorado Public Utilities Commission (PUC) has reconsidered its decision to turn down Xcel Energy’s (NYSE:XEL) plan to buy power from certain community solar gardens, thus paving the way for the development of projects totalling 29.5 MW.

The commission said in a statement on Wednesday that it has decided to approve a settlement agreement addressing the implementation of Xcel’s programme after it was proved that the proposal was in the public interest. In March, the PUC rejected the proposal because it lacked sufficient details to support clearance, it said.

In 2014, the PUC allowed Xcel to acquire between 19.5 MW and 90 MW of community solar gardens by the end of 2016. The following year Xcel held a competitive solicitation for 29.5 MW of capacity related to such facilities, with SunShare, Clean Energy Collective and Community Solar Energy emerging as the winners.

Subsequently, Xcel and the three solar companies reached a settlement under which the utility is to pay USD 0.03 (EUR 0.027) per kWh for the renewable energy credits (RECs) generated by the solar gardens instead of the bid prices offered in response to the 2015 request for proposals. That settlement was finally cleared on Wednesday after the parties provided additional financial and legal evidence to back their plan.

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