in News Departments > New & Noteworthy
print the content item

Utility company Xcel Energy, which already had nearly 4.9 GW of wind power on its system at the end of 2012, has proposed to grow its wind portfolio by at least another 1.5 GW.

The company is the U.S.' No. 1 wind energy supplier and says the move for more wind is made possible by "extremely competitive prices" and the extension of the federal production tax credit (PTC).

"Wind energy is a valuable, low-cost substitute for natural gas and other fuels right now," says Ben Fowke, Xcel’s chairman, president and CEO. "These projects will lower customer costs by at least $800 million over their lives and will provide a valuable hedge to rising and volatile fuel prices for well into the future."

Xcel has submitted throughout its service territories proposals to purchase the additional wind resources, a 30% increase in overall wind capacity. If the projects are approved by the relevant state regulators, Xcel expects that more than 20% of its total energy mix will be supplied by wind.

Xcel Energy is seeking approval of the following projects:

Upper Midwest: Three 200 MW projects in Minnesota and North Dakota. Xcel says the additions will save Upper Midwest customers more than $180 million in fuel costs over 20 years.

Texas/New Mexico: Three projects totaling almost 700 MW located in New Mexico, Oklahoma and Texas. The company says the additions will save Texas-New Mexico customers up to $590 million in fuel costs over 20 years.

Colorado:
One project totaling approximately 200 MW, which the company says will help save Colorado customers more than $142 million in fuel costs over 20 years. The Colorado Public Utilities Commission will decide this fall on whether to approve another 350 MW of wind power.

If approved by regulators, Xcel says construction on the projects will begin immediately in order to qualify for the PTC, which requires that a project begin significant construction activities by the end of 2013. All projects are scheduled to be in service by the beginning of 2016.




Trachte Inc._id1770
Latest Top Stories

Report Disputes U.S. Agency's Renewable Energy Projections

A new analysis from the Sun Day Campaign says renewables are slated to provide 16% of U.S. generating capacity by 2018 - over 20 years earlier than forecast by the Energy Information Administration.


Kansas Renewables Mandate Survives Yet Another Attack, But Is It Too Early To Celebrate?

Over the past three years, some legislators have tried to either weaken or repeal the state's renewable portfolio standard, which requires Kansas utilities to reach 20% renewables by 2020.


AWEA Highlights U.S. Wind Success Stories Of 2013

Despite a 92% drop in new capacity last year, the sector still has myriad reasons to celebrate, according to a new report from the American Wind Energy Association.


Feds List New Bird Species As Threatened - Should Wind Developers Be Worried?

The U.S. Fish and Wildlife Service is designating the lesser prairie-chicken as threatened under the Endangered Species Act. An expert explains how this might affect the wind industry.


Senate Committee Passes Bill With Two-Year PTC Extension

The Senate Finance Committee has voted on a tax extenders package, which includes both the production tax credit (PTC) and investment tax credit, and sent it to the floor.

Acciona_id1907
UEA_id1896
WomenofWind_id
JLG_id1900
AWEA_id1886
bonfiglioli_id1913