Minnesota-based Xcel signed a power-purchase agreement for the plant, meaning it will for now be owned by SunPower, with third-party investors likely to be brought on.

SunPower will build the project using its modular Oasis Power Plant system, with construction to kick off next year and finish by the end of 2016.

It is the third plant SunPower will build in Colorado’s southern San Luis Valley to generate power for Xcel, following the 19MW Greater Sandhill (now owned by MetLife and John Hancock Financial Services) and 30MW San Luis Valley Solar Ranch (owned by Iberdrola Renewables).

Acting