Xcel Energy plans to add 1,550 mW of power, which is 60% of its existing wind energy generation capacity, to its facilities in the Upper Midwest region in the US.
For more than a decade now, Xcel Energy has been a leading provider of wind power to utilities operating in certain parts of the country. Now, it plans to further improve its position in the market by adding new wind farms in North and South Dakota, Iowa, and Minnesota.
According to the company’s vice-president Laura McCarten, these projects are worth over $2.5 billion in capital investments, but they will save more than $4 billion on fuel and other costs over their life. Commenting on the benefits they will bring to the community, McCarten said:
“Everywhere they’re located they will provide local benefits. From construction jobs, to the ongoing permanent jobs, to property tax to payments made to landowners. It really is a good benefit to the state’s they’re located in as well as good benefit for our customers.”
These wind energy projects are subject to local and state regulatory approval, and when approved, they will start operating commercially in 2020. Generally, they help the company achieve its goal of becoming 63% carbon-free by 2030.