Dive Summary:
- Xcel Energy is seeking approval from regulators in various states to purchase 1,500 megawatts (MW) of wind resources, a 30% increase in the utility's overall wind capacity.
- Projects include 200MW in Minnesota and North Dakota; three projects totaling 700MW in Texas and New Mexico; and a Colorado project totaling 200MW. If approved, wind will account for 20% of Xcel's total energy mix.
- Xcel's wind expansion and power plant improvement projects will reduce the utility's carbon emissions by 28 million tons, or more than 31% by 2020.
From the press release:
"Wind energy is a valuable, low-cost substitute for natural gas and other fuels right now," said Ben Fowke, chairman, president and CEO. "These projects will lower customer costs by at least $800 million over their lives and will provide a valuable hedge to rising and volatile fuel prices for well into the future."
