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 March 31, 2024(a)

        Estimated Date of 
Commercial 
Operation

        Paris(b)

        10%

        Solar/Battery

        20 MW/11 MW

        $61 million(d)

        $35.7 million

        2024 Solar
2025 Battery

        Darien(c)

        10%

        Solar

        25 MW

        $48 million(d)(e)

        $29.5 million

        2024

(a)

Excluding AFUDC.

(b)

Paris Solar-Battery Park is located in the Town of Paris in Kenosha County, Wisconsin.

(c)

Darien Solar Energy Center is located in Walworth and Rock Counties in southern Wisconsin.

(d)

Estimated costs are expected to exceed PSCW previously approved CA levels. Notifications are provided to the PSCW when costs increase above CA levels. MGE has and will continue to request recovery of the updates in its rate case proceedings.

(e)

As part of its order, the PSCW approved battery capacity with this project, which is no longer included in the current estimate. We will continue to evaluate timing, cost, and feasibility of the installation of batteries.

MGE received specific approval to recover 100% AFUDC on Paris and Darien. During the three months ended March 31, 2024, MGE recognized $1.2 million, after tax, in AFUDC for these projects compared to $0.4 million for the comparable period in 2023.