Xcel Energy has announced plans to add 1,550 megawatts of new wind generation in the Upper Midwest region, a move that will provide long term savings to customers and help the company approach 63 percent carbon-free energy by 2030.
For the past 12 years, Xcel has been the leading wind provider in the United States. With the addition of seven new wind farms in Minnesota, North Dakota, South Dakota and Iowa, Xcel plans to increase its wind energy fleet by 60 percent.
The projects represent more than $2.5 billion in capital investments and Xcel estimates the wind projects will save more than $4 billion in fuel and other costs over the life of the project.
"Everywhere they're located they will provide local benefits, Laura McCarten, Regional Vice President of Xcel Energy, said. "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."
All the projects are subject to state and local regulatory approval. If accepted, the projects will be in service in 2020.