Minneapolis (April 14, 2020) – Xcel Energy announced today that as part of its plans to dedicate more than $20 million to new corporate giving, including COVID-19 relief, Xcel Energy and the Xcel Energy Foundation will donate the first $1.5 million in the eight states it serves before the sale of the Mankato Energy Center closes later this summer.
The company announced last week that the net proceeds from that sale, expected to be more than $20 million, will go to short and long term corporate giving, including COVID-19 relief.
“At Xcel Energy we’re doing our part to support our customers and communities during this very challenging time” said Ben Fowke, chairman and CEO of Xcel Energy. “I’m so proud of our employees, who are not only doing critical work to keep the lights on, they’ve also embraced our commitment to community by joining our effort to support our neighbors in need.”
As part of the donation, the Xcel Energy Foundation is matching employee donations up to $1,000 at a rate of two dollars for every dollar donated, tripling the amount of the gift, up to $300,000. Within a week, employees donated $112,000 dollars. With the Foundation match of more than $223,000, that’s a donation of nearly $335,000.
One million dollars of the money donated by Xcel Energy and its foundation is designated for existing nonprofit partners along with organizations that address food insecurity and those that provide disaster relief, including local chapters of The United Way and regional food banks. Xcel Energy serves communities in Minnesota, Colorado, Texas, New Mexico, Wisconsin, North Dakota, South Dakota and Michigan.
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About Xcel Energy
Xcel Energy (NASDAQ: 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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