Xcel Energy to Sell Former Power Plant Water to Colorado Farmers
By Jerd Smith | The Colorado Sun
The deal, which could be worth more than $44 million, includes Colorado Springs Utilities and is expected to close early next year
Xcel Energy will offer water it owns but no longer needs to farmers in the water-strapped Lower Arkansas River Valley, in an innovative deal advocates hope will help the struggling region regain control of vital water supplies and protect its agricultural economy.
Under the preliminary terms of the proposal, valued at more than $44 million, Xcel will sell 12,500 acre-feet of water to a newly formed irrigation company, 70% of which will be owned by farmers and 30% of which will be owned by Colorado Springs Utilities.
An acre-foot of water equals 326,000 gallons, enough to serve two to four urban households for one yea...
