MGE ENERGY INC
For the period ended Mar 31, 2025. Filed May 7, 2025.
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Mar 31, 2025 · Filed May 7, 2025
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12. Joint Plant Construction Project Ownership
uction Project Ownership - MGE Energy and MGE
MGE has ownership interests in generation projects with other co-owners, some of which are under construction, as shown in the following table. Incurred costs are reflected in "Property, plant, and equipment, net" or "Construction work in progress" on the consolidated balance sheets.
| Project | Ownership Interest | Source | Share of Generation | Share of Estimated Costs(a) | Costs incurred as of March 31, 2025(a) | Date of Commercial Operation |
|---|---|---|---|---|---|---|
| Paris(b) | 10% | Battery | 11 MW | $25 million(f) | $22.9 million | 2025 Battery(g) |
| Darien(c) | 10% | Solar/Battery | 25 MW/7.5 MW | $63 million(f) | $47.1 million | March 2025 Solar2026 Battery(g) |
| Koshkonong(d) | 10% | Solar/Battery | 30 MW/16.5 MW | $104 million(f) | $20.0 million | 2026 Solar(g)2027 Battery(g) |
| High Noon(e) | 10% | Solar/Battery | 30 MW/16.5 MW | $99 million | $1.1 million | 2027(g) |
(a)
Excluding AFUDC.
(b)
Paris Solar-Battery Park is located in the Town of Paris in Kenosha County, Wisconsin.
(c)
Darien Solar Energy Center is located in Walworth and Rock Counties in southern Wisconsin.
(d)
Koshkonong Solar Energy Center is located in the Towns of Christiana and Deerfield in Dane County, Wisconsin.
(e)
High Noon Solar Project is located in Columbia County, Wisconsin.
(f)
Estimated costs are expected to exceed PSCW previously approved Certificate of Authority (CA) levels. Notifications are provided to the PSCW when costs increase above CA levels. MGE has and will continue to request recovery of the updates in its rate case proceedings.
(g)
Estimated date of commercial operation.
MGEreceived specific approval to recover 100% AFUDC on Paris, Darien, and Koshkonong. During the three months ended March 31, 2025, MGE recognized $1.6 million, after tax, in AFUDC for these projects compared to $1.2 million for the comparable period in 2024.
Reven
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