JOINTLY-OWNED FACILITIES AND PROJECTS

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

We are a participant in the CapX2020 initiative to ensure reliable electric transmission and distribution in the region surrounding our rate-regulated operations in Minnesota, along with other electric cooperatives, municipals, and investor-owned utilities. We are currently participating in one CapX2020 project and have completed two CapX2020 projects with varying ownership percentages.

Our 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
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
2013
Boswell Unit 4		$416.1		$197.5		$71.5	80
CapX2020 Projects	22.8		1.0		57.7		9.3 - 14.7
Total		$438.9		$198.5		$129.2