Xcel Energy One of First U.S. Energy Providers to Reach 10,000-Megawatt Wind Power Milestone

Rhea-AI Summary

Xcel Energy has achieved a major milestone by reaching 10,000 megawatts of wind energy capacity online, driven by 10 new wind projects across the Upper Midwest, Colorado, Texas, and New Mexico. By year-end, over 31% of the company's energy capacity is expected to be from wind. Xcel Energy's ambitious goal includes reducing carbon emissions by 80% by 2030 and reaching 100% carbon-free energy by 2050. The projects generated thousands of construction jobs and provided economic benefits to local communities.

Positive

• Achieved 10,000 megawatts of wind energy capacity.
• Expect over 31% of energy capacity from wind by year-end.
• Created thousands of construction jobs and hundreds of permanent jobs.
• First major U.S. power provider to commit to 80% carbon emissions reduction by 2030.

Negative

• None.

At the end of 2020, Xcel Energy became one of the first energy providers in the United States to reach 10,000 megawatts of wind energy capacity online for customers in the states it serves. The milestone is powered by the company’s 10 new wind projects in the Upper Midwest, Colorado, Texas, and New Mexico.

While many projects are already completed, all the projects will be online by year’s end, completing the largest multi-state wind investment in the country. As new projects continue to come online in 2021, the company estimates more than 31% of its nameplate energy capacity will come from wind by the end of the year. Additionally, Xcel Energy owns and operates much of the new wind, increasing its owned projects from 850 megawatts, to 4,469 megawatts by the end of the year.

“We launched an ambitious wind energy expansion in 2017 as part of our ongoing commitment to reduce carbon emissions while continuing to provide safe, reliable, and affordable service for our customers,” said Ben Fowke, chairman and CEO, Xcel Energy. “The new wind projects we’ve added will save customers money in the coming decades, are among the most cost-effective energy sources on our grid and are integral to our groundbreaking vision to deliver 100% carbon-free electricity to our customers by 2050.”

Xcel Energy is the first major U.S. power provider to announce a commitment to reducing carbon emissions by 80% (from 2005 levels) by 2030, with a vision of delivering 100% carbon-free electricity by 2050. The company is more than halfway to that interim goal.

The projects enabled the creation of thousands of construction jobs and hundreds of permanent operations and maintenance jobs, while also supporting local governments and landowners who receive benefits through lease payments and taxes that help support local infrastructure.

New wind projects powering communities throughout Xcel Energy’s service territories

Xcel Energy has built new wind farms, repowered other projects, and secured new power purchase agreements (PPAs) for projects throughout its service territories since 2016, totaling more than 4,000 megawatts (MW), including:

Colorado:

• Bronco Plains, 300 MW, completed in 2020 (PPA)
• Cheyenne Ridge, 500 MW, completed in 2020 (owned)
• Colorado Green, 200 MW, completed in 2020 (PPA)
• Mountain Breeze, 171 MW, completed in 2020 (PPA)
• Rush Creek, 600 MW, completed in 2018 (owned)

New Mexico/Texas:

• Bonita, 230 MW, completed in 2018 (PPA)
• Hale, 478 MW, completed in 2019 (owned)
• Sagamore Wind, 522 MW, completed in 2020 (owned)

Upper Midwest:

• Blazing Star 1, 200 MW, completed in 2019 (owned)
• Community Wind North, 26 MW, completed in 2020 (owned)
• Crowned Ridge 1, 200 MW, completed in 2020 (owned)
• Crowned Ridge 2, 200 MW, completed in 2020 (PPA)
• Foxtail Wind, 150 MW, completed in 2019 (owned)
• Glen Ullin Wind, 106 MW, completed in 2019 (PPA)
• Jeffers Wind, 44 MW, completed in 2020 (owned)
• Lake Benton 2, 100 MW, completed in 2019 (owned)

Several other Upper Midwest projects are under construction and will be complete in 2021, including:

• Blazing Star 2, 200 MW (owned)
• Dakota Range 1-2, 296 MW (owned)
• Dakota Range 3, 150 MW (PPA)
• Freeborn Wind, 200 MW (owned)
• Mower Wind, 99 MW (owned)
• Deuel Harvest Wind, 100 MW (PPA)

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.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210210005844/en/

FAQ

What milestone did Xcel Energy reach in 2020 related to wind energy?

Xcel Energy reached 10,000 megawatts of wind energy capacity online in 2020.

What percentage of Xcel Energy's capacity is expected to come from wind by the end of 2021?

Over 31% of Xcel Energy's nameplate energy capacity is expected to come from wind by the end of 2021.

What is Xcel Energy's goal for carbon emissions by 2030?

Xcel Energy aims to reduce carbon emissions by 80% from 2005 levels by 2030.

How many new wind projects did Xcel Energy add?

Xcel Energy added 10 new wind projects in the Upper Midwest, Colorado, Texas, and New Mexico.

How many jobs were created due to Xcel Energy's wind projects?

The projects created thousands of construction jobs and hundreds of permanent operations and maintenance jobs.