Minneapolis-- July 7, 2017– Yesterday the Minnesota Public Utilities Commission approved Xcel
Energy’s plan for the largest expansion of wind energy in the Upper Midwest. The North Dakota Public
Service Commission will review the plan later this year.
The new wind projects will save Xcel Energy customers billions of dollars in fuel and other costs, as
compared to the costs of other energy sources. Seven new wind farms are slated to be built in Iowa,
Minnesota, North Dakota, and South Dakota and will be operational by the end of 2020. The projects will
provide enough energy to power more than 800,000 homes, increasing Xcel Energy’s regional wind
output by approximately 70 percent.
“We’re investing in low-cost wind energy to provide the benefits of clean, affordable energy directly to our
customers,” said Chris Clark, president, Xcel Energy-Minnesota. “These projects deliver on our plan to
keep energy costs low while also reducing carbon emissions by more than 60 percent in the coming
Investments deliver long-term value
With these new wind farms, Xcel Energy is locking in low-cost, carbon-free energy. As no fuel is needed
for wind farms, the cost of electricity from the wind farms is not affected by fuel price spikes. Customers
receive the benefit of low, stable electricity prices from these wind farms for the 25-year life of the
“Our strategy delivers the long-term value our customers tell us they want,” said Clark. “These projects
give our customers both lower bills over the long term and predictable prices, in addition to a cleaner
Xcel Energy will own 1,150 megawatts of the new wind energy; the remaining 400 megawatts will be sold
to the company under long-term power purchase agreements.
All projects are expected to be completed by the end of 2020, qualifying them for 100 percent Production
Benefits to landowners and local governments
In addition to the cost savings the projects will deliver, local landowners and governments will receive
millions in lease payments and property taxes over the life of the projects. Xcel Energy estimates lease
payments will exceed $7 million annually, with property tax contributions exceeding $8 million.
Up to 1,500 construction jobs are expected to be created through the projects.
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About Xcel Energy
Xcel Energy (NYSE: XEL) provides the energy that powers millions of homes and businesses across
eight Western and Midwestern states. Headquartered in Minneapolis, the company is an industry leader
in responsibly reducing carbon emissions and producing and delivering clean energy solutions from a
variety of renewable sources at competitive prices. For more information, visit xcelenergy.com or follow
us on Twitter and Facebook.
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