Anterix signs $80M prepaid 20-year spectrum lease with Xcel Energy across eight states

Anterix Inc.

Xcel Energy prepays $80M for exclusive use of 6 MHz of 900 MHz broadband spectrum; initial 20-year term with two 10-year renewal options.
Spectrum covers Xcel's service territory in CO, MI, MN, NM, ND, SD, TX, WI; delivery starts Q2 2023.
Anterix expects to recognize revenue from the agreement starting fiscal year 2024, straight-line amortization as spectrum is delivered.
Xcel to join Anterix's Utility Strategic Advisory Board and collaborate on private LTE trials and ecosystem development.
Lease enables Xcel to deploy private LTE network for grid modernization serving 3.7M electric and 2.1M gas customers.

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