MADISON GAS & ELECTRIC CO
For the period ended Jun 30, 2026. Filed Aug 5, 2026.
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Jun 30, 2026 · Filed Aug 5, 2026
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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 June 30, 2026(a) | Estimated Date of Commercial Operation |
|---|---|---|---|---|---|---|
| Darien(b)(c) | 10% | Battery | 7.5 MW | $18 million(k) | $7.4 million | 2027 |
| Koshkonong(b)(d) | 10% | Solar/Battery | 30 MW/16.5 MW | $93 million(k) | $68.7 million | 2026 Solar2027 Battery |
| High Noon(b)(e) | 10% | Solar/Battery | 30 MW/16.5 MW | $99 million | $63.3 million | 2027 |
| Columbia Energy Dome(b)(e) | 19% | Storage | 3 MW | $22 million(k)(l) | $6.9 million | 2027 |
| Badger Hollow(b)(f) | 10% | Wind | 11.2 MW | $36 million | $6.9 million | 2027 |
| Whitetail(g) | 10% | Wind | 6.7 MW | $23 million | $1.2 million | 2027 |
| Dawn Harvest(b)(h) | 10% | Solar | 15 MW | $34 million | $16.4 million | 2027 |
| Forward Repower(b)(i) | 12.8% | Wind | 18 MW | $14 million | $5.3 million | 2027 |
| Ursa(b)(e) | 10% | Solar | 20 MW | $46 million | $6.6 million | 2028 |
| Saratoga(b)(j) | 10% | Solar/Battery | 15 MW/5 MW | $46 million | $12.1 million | 2028 |
| Good Oak(b)(e) | 10% | Solar | 9.8 MW | $22 million | $8.4 million | 2028 |
| Gristmill(b)(e) | 10% | Solar | 6.7 MW | $15 million | $5.9 million | 2028 |
(a)
Excluding AFUDC.
(b)
MGE received specific approval to recover 100% AFUDC. During the three and six months ended June 30, 2026, MGE recognized $4.7 million and $7.9 million, respectively, after tax, in AFUDC for these projects compared to $0.5 million and $2.1 million for the comparable periods in 2025.
(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)
Located in Columbia County, Wisconsin.
(f)
Badger Hollow Wind is located in Iowa and Grant Counties, Wisconsin.
(g)
Whitetail Wind is located in Grant County, Wisconsin.
(h)
Dawn Harvest Solar Energy Center is located in Rock County, Wisconsin.
(i)
Forward Wind Energy Center is located in Dodge and Fond du Lac Counties, Wisconsin.
(j)
Saratoga Solar Energy Center is located in Wood County, Wisconsin.
(k)
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 updated costs in its rate case proceedings.
(l)
This project was awarded with a grant from the U.S. Department of Energy's Office of Clean Energy Demonstrations. This will reduce the total estimated project expenses. The remaining cost is expected to be approximately $16 million. As of June 30, 2026, MGE received $4.3 million in reimbursements. This is not reflected in the table above.
Reven
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