JOINTLY-OWNED FACILITIES AND PROJECTS

Boswell Unit 4. Minnesota Power owns 80 percent of the 585 MW Boswell Unit 4. While Minnesota Power operates the plant, certain decisions about the operations of Boswell Unit 4 are subject to the oversight of a committee on which it and WPPI Energy, the owner of the remaining 20 percent, have equal representation and voting rights. Each owner must provide its own financing and is obligated to its ownership share of operating costs. Minnesota Power’s share of direct operating expenses of Boswell Unit 4 is included in operating expense on our Consolidated Statement of Income.

CapX2020. Minnesota Power is a participant in the CapX2020 initiative which represents an effort to ensure electric transmission and distribution reliability in Minnesota and the surrounding region for the future. CapX2020, which consists of electric cooperatives and municipal and investor-owned utilities, including Minnesota’s largest transmission owners, has assessed the transmission system and projected growth in customer demand for electricity through 2020. On April 2, 2015, the CapX2020 transmission line project from Fargo, North Dakota, to St. Cloud, Minnesota, was completed and placed in service. Minnesota Power previously participated in two additional CapX2020 projects which were completed and placed in service in 2011 and 2012.

NOTE 4. JOINTLY-OWNED FACILITIES AND PROJECTS (Continued)

Minnesota Power’s investments in jointly-owned facilities and projects and the related ownership percentages are as follows:



Regulated Utility Plant As of December 31	Plant in Service		Accumulated Depreciation		Construction Work in Progress		% Ownership
Regulated Utility Plant As of December 31	Plant in Service		Accumulated Depreciation		Construction Work in Progress		% Ownership
Millions
2015
Boswell Unit 4		$668.2		$195.0		$6.9	80
CapX2020 Projects	101.1		3.4		—		9.3 - 14.7
Total		$769.3		$198.4		$6.9
2014
Boswell Unit 4		$419.1		$209.1		$168.1	80
CapX2020 Projects	55.5		1.7		44.0		9.3 - 14.7
Total		$474.6		$210.8		$212.1