STOCK TITAN

As One MGE Solar Project Begins Delivering Clean Energy to Customers, Another Marks a Milestone

Rhea-AI Impact
(Low)
Rhea-AI Sentiment
(Very Positive)
Tags
Rhea-AI Summary

Madison Gas and Electric (MGE) has announced the launch of the Badger Hollow Solar Farm Phase I, contributing to its sustainable energy initiatives. This facility adds 50 MW of locally generated, carbon-free electricity, enough to power approximately 16,500 households. MGE aims to reduce carbon emissions by 65% by 2030 and achieve net-zero carbon electricity by 2050. Additionally, MGE celebrates the one-year anniversary of the Two Creeks Solar project, which has produced enough energy to power 64 million smartphones in its first year. MGE continues to invest in renewable energy solutions.

Positive
  • Launch of Badger Hollow Solar Farm Phase I, adding 50 MW of carbon-free electricity.
  • MGE aims for 65% carbon emissions reduction by 2030.
  • Celebration of Two Creeks Solar's one-year anniversary, showcasing its energy production.
Negative
  • None.

Badger Hollow Solar Farm Phase I joins Two Creeks Solar in advancing MGE's sustainable energy goals

MADISON, Wis.--(BUSINESS WIRE)-- Madison Gas and Electric (MGE) is highlighting two significant solar energy milestones for the company this month. The first phase of the Badger Hollow Solar Farm is now online and delivering locally generated, sustainable energy to the electric grid. Also this month, Two Creeks Solar marks one year in service.

"We are excited to have the first phase of the Badger Hollow Solar Farm in service and delivering carbon-free, cost-effective electricity to our customers for decades to come," said Jeff Keebler, MGE Chairman, President and CEO. "This is a great addition to our generation mix, along with the Two Creeks Solar project. Both of these major solar facilities will play a key role in continuing to reduce our carbon emissions, helping us achieve our sustainable energy goals and achieving net-zero carbon electricity."

MGE has reduced its carbon emissions 30% since 2005 and expects to achieve carbon reductions of at least 65% by 2030, consistent with global climate science to limit global warming. MGE continues to transition its energy supply to cleaner sources, with the anticipated addition of nearly 400 megawatts (MW) of wind, solar and battery storage between 2015 and 2024.

Badger Hollow Solar Farm

Located near the communities of Montfort and Cobb in Iowa County, Wisconsin, MGE owns 50 MW of Phase I of the Badger Hollow Solar Farm. Wisconsin Public Service (WPS) owns the remaining 100 MW. MGE's 50-MW share is expected to generate enough electricity to power approximately 16,500 households.

Construction continues on the 150-MW second phase of Badger Hollow Solar Farm. MGE will own 50 MW of Phase II and WPS will own 100 MW.

Two Creeks Solar marks first anniversary

The first large-scale solar facility in state history, Two Creeks Solar, is celebrating its one-year anniversary. Located in Manitowoc County in the town of Two Creeks and the city of Two Rivers, the 150-MW array came online in November 2020. MGE owns 50 MW and WPS owns 100 MW.

According to WPS, which is the operator, Two Creeks Solar has produced enough energy in its first year of operation to:

  • Power more than 64 million smartphones for a year.
  • Run 515,000 refrigerators for a year.
  • Power more than 2,500 home games at Lambeau Field.

MGE targeting net‐zero carbon electricity

In May 2019, MGE announced its goal of net-zero carbon electricity by 2050, making it one of the first utilities in the nation to commit to net-zero carbon by mid-century. MGE's net-zero goal is consistent with the latest climate science from the Intergovernmental Panel on Climate Change (IPCC) October 2018 Special Report on limiting global warming to 1.5 degrees Celsius. To achieve deep decarbonization, MGE is growing its use of renewable energy, engaging customers around energy efficiency and working to electrify transportation, all of which are key strategies identified by the IPCC.

About MGE

MGE generates and distributes electricity to 157,000 customers in Dane County, Wisconsin, and purchases and distributes natural gas to 166,000 customers in seven south‐central and western Wisconsin counties. MGE's parent company is MGE Energy, Inc. The company's roots in the Madison area date back more than 150 years.

Steve Schultz

Corporate Communications Manager

608-252-7219 | sbschultz@mge.com

Source: Madison Gas and Electric

MGE Energy Inc

NASDAQ:MGEE

MGEE Rankings

MGEE Latest News

MGEE Stock Data

3.40B
36.11M
0.26%
62.58%
4.43%
Utilities - Regulated Electric
Electric, Gas & Sanitary Services
Link
United States of America
MADISON