Xcel Readies for Colorado, Minnesota Buildouts After Strong 2022

January 30, 2023--Researched by Industrial Info Resources (Sugar Land, Texas)--Xcel Energy Incorporated (NASDAQ:XEL) (Minneapolis, Minnesota) reported solid profit growth for 2022 and is preparing for a substantial buildout in its transmission & distribution (T&D) business across Colorado and its power-generation business in Minnesota.

Industrial Info is tracking about $9 billion in active projects from Xcel, with about $3.5 billion and $5.5 billion attributed to power-generation and T&D projects, respectively. More than half of the total investment value attributed to Xcel's T&D projects stem from the Power Pathway Project across Colorado, while Minnesota accounts for more than $3 billion of the $3.5 billion in power-generation projects.