Dive Brief:
- Xcel Energy has announced it plans to invest $557 million in new and existing transmission lines and substations in Texas and New Mexico.
- The investment, part of the utility's Power for the Plains program, will finance 400 miles of new high-voltage transmission lines and 12 new substations, as well as the upgrade of nine already-operational substations.
- Xcel will build 149 miles of 115-kV transmission lines and 245 miles of 345-kV transmission lines. The plan was approved by the Southwest Power Pool in April.
Dive Insight:
The plan is designed to bolster Xcel's transmission and distribution in New Mexico and Texas as the strengthening economy has grown electricity demand.
“The growth we’re seeing in New Mexico and West Texas is unprecedented, and it’s being driven primarily by the booming energy and mining sectors,” said David Hudson, CEO of Xcel subsidiary Southwestern Public Service Co. “As a partner in this region’s economic success, we’re committing a huge amount of capital to sustain this growth well into the future.”
The program will also create new jobs in construction, operations and maintenance, the utility said. The initiative is part of a wider investment effort by the utility, which is pouring about $1.7 billion into infrastructure in the Southwest.