Minneapolis – Xcel Energy announced today it is seeking proposals to dramatically grow its wind energy portfolio by adding enough new wind farms to power more than 750,000 homes. This announcement is another step in Xcel Energy’s long-term plan to transform its energy fleet, and represents one of the largest wind energy proposals in the nation, bringing up to 1,500 megawatts of new wind power to Xcel Energy customers.
“This is an exciting day for Xcel Energy and our customers as we build our energy future. We’re already the nation’s leading utility wind energy provider, but today we take another major step to transform our energy fleet to cleaner more renewable energy sources, reduce our carbon footprint, and do so at an affordable cost,” said Chris Clark, president, Xcel Energy-Minnesota.
Xcel Energy is seeking proposals now to take full advantage of great wind pricing supported by federal tax credits available for construction of new wind projects. The additional wind energy is part of the company’s long-term plan to more than double its renewable energy portfolio and deliver 63 percent of our energy from carbon-free resources in the next 15 years.
“This is a great value for our customers,” said Clark. “We’re pursuing proposals now to take full advantage of low wind prices which means we can expand our wind energy portfolio at an extremely competitive cost.”
Xcel Energy can increase the amount of wind generation on the system without impacting service reliability because of the company’s sophisticated wind forecasting technology and infrastructure investments that have been made in our system that can deliver wind to communities where customers live.
Proposals can be a mix of power purchase agreements and projects purchased from developers.
The RFP (available at www.xcelenergy.com/NSP2016WINDRFP) requests companies respond Oct. 25, 2016.
Xcel Energy will evaluate proposals submitted, and bring forward proposed plans for regulatory review and approval.
As part of Xcel Energy’s commitment to delivering a more sustainable energy future, the company plans to move away from coal to cleaner energy sources by investing in wind, solar and natural gas in the Upper Midwest. Xcel Energy is leading the way to a future powered by clean, renewable energy, delivered at an affordable price. The company’s long range plan achieves 63 percent carbon-free energy in the next 15 years, with more than one-third generated from renewables. It paves the way for Minnesota and the surrounding region to affordably meet state and national energy standards, and also creates new jobs and investments for our communities.
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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