Xcel Energy gets green light on long-range plan to affordably achieve industry-leading carbon reductions
Xcel Energy has received approval for its long-range plan to power the Upper Midwest’s energy future by transforming its energy fleet, delivering 60% carbon-free energy and more than double its renewable energy portfolio. The Minnesota Public Utilities Commission voted to support the company’s 2030 plan, today.
“This is a great decision for our customers and the state of Minnesota. We can now move forward with our plan to transform our energy fleet and lead the industry in delivering cleaner energy at a cost effective price for customers,” said Chris Clark, president, Xcel Energy-Minnesota. “Today’s outcome allows us to invest even more in wind, giving customers more renewable energy options while continuing to ensure reliable service and support for our communities by advancing the replacement energy generation at our Sherburne County plant.”
Nation-leading wind energy expansion underway
Xcel Energy leads the nation as the number one utility wind energy provider for more than decade, and as part of its Upper Midwest plan proposed expanding wind energy by adding enough new wind farms to power 750,000 homes. The announcement 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.
Industry-leading carbon reductions and reliable service
As part of Xcel Energy’s commitment to delivering a more sustainable energy future, the company is moving away from coal to cleaner energy sources by investing in wind, solar and natural gas in the Upper Midwest. The MPUC’s decision allows the company to retire two coal units at its Sherburne County Generating Plant and move forward the planning to identify the energy resources needed to best meet customers’ needs for power reliability.
“Today’s decision gives a clear path as we advance our filing for a gas combined cycle unit at the site, which we are confident is the best resource for our customers and the reliability of our system,” said Clark.
Xcel Energy’s plan approved today is a path to 63 percent carbon-free energy in the next 15 years, with more than one-third generated from renewables. It also allows Minnesota and the surrounding region to affordably meet state and national energy standards, while creating new jobs and investments for the communities Xcel Energy serves.