ABB_id2059
in News Departments > New & Noteworthy
print the content item

Xcel Energy has submitted to state regulators a proposal to add 600 MW of wind resources through three projects in its Upper Midwest service territory.

If the proposal is approved, Xcel says construction would begin in time to qualify for the extended federal production tax credit and the additional 600 MW could lower customer costs by $180 million over the lives of the projects.

“Wind prices are extremely competitive right now, offering lower costs than other possible resources, like natural gas plants,” says Dave Sparby, president and CEO of Northern States Power Co., a Minnesota-based Xcel Energy company.  “These projects offer a great hedge against rising and often-volatile fuel prices.”

Sparby notes that Xcel already has 1.8 GW of wind energy on its system in the Upper Midwest.

Following a request for proposals in February, Xcel Energy selected the three following projects to submit to regulators for review:

- Courtenay Wind Farm, a 200 MW project near Jamestown, N.D., under a power purchase agreement with Geronimo Energy;

- Odell Wind Farm, a 200 MW project near Windom, Minn., also under a power purchase agreement with Geronimo Energy; and

- Pleasant Valley, a 200 MW project near Austin, Minn., submitted by RES America Developments Inc. RES would develop the project and then transfer ownership to Xcel Energy. The Pleasant Valley project is adjacent to the Grand Meadow wind project, which Xcel Energy owns.

All three projects are scheduled to be in service by the beginning of 2016.

Xcel Energy submitted the projects to the Minnesota Public Utilities Commission and the North Dakota Public Service Commission for consideration and notified regulators in South Dakota, Wisconsin and Michigan. The company also indicated it would continue to evaluate projects and could make additional proposals if similar benefits can be achieved.

Xcel notes that this represents the third wind acquisition proposal from the company in recent weeks. Xcel Energy’s operating companies in its Upper Midwest, Colorado and Texas-New Mexico service territories each requested wind project proposals earlier this year in order to take advantage of the PTC, which was extended in January.





Hybrid Energy Innovations 2015

Trachte_id2056
Latest Top Stories

The Song Remains The Same: AWEA Says Stable Policy Can Protect U.S. Wind Investment

Although the U.S. wind industry added more than four times the amount of wind in 2014 compared with 2013, predictable policy is needed to sustain its long-term success.


High Net-Worth Investors Claim 'All Of The Above' On Energy, Renewable And Otherwise

According to a recent Morgan Stanley poll, high-dollar investors favor investment in renewable energy technologies, such as wind and solar.


U.S. Wind Power Installations Surpassed 4.7 GW Last Year, Although China Still Leads

Bloomberg New Energy Finance reports that U.S. wind installations came back in a big way from a disappointing 2013.


IRS Specifies Performance, Quality Standards For Small Wind Turbines

The Internal Revenue Service (IRS) recently issued guidelines creating safety and performance standards for small wind turbines to be eligible for the 30% investment tax credit.


Hot Times North Of The Border: Canada Tops Previous Record For Installed Wind Capacity

For the second consecutive year, Canada's wind market has bested the country's previous mark for new installations.

Hybrid Energy Innovations 2015