DENVER—A prominent critic of Xcel Energy’s plan to build a major transmission line across his southern Colorado ranch is also an investor in the utility who stands to earn money from the project.
The Denver Post reports that Louis Bacon’s hedge fund holds Xcel stock valued at $56 million. Moore Capitol Management’s shares represent an ownership stake of just under a half of a percent of Xcel. That’s likely not enough to influence management of the Minneapolis-based utility.
Bacon told the newspaper that investing in Xcel is “putting my money where my mouth is.”
Whether or not the southern Colorado transmission line is built, Bacon said Xcel would remain an attractive investment. He said Xcel can charge double-digit rates of return on capital projects like transmission lines with essentially no risk.
———
Information from: The Denver Post,
