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Released April 29, 2019 | SUGAR LAND
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Researched by Industrial Info Resources (Sugar Land, Texas)--Xcel Energy Incorporated (NASDAQ:XEL) (Minneapolis, Minnesota) is on its way to fulfilling ambitious plans to reduce carbon emissions by 80% by 2030 and be completely carbon-free by 2050. Industrial Info is tracking more than $4 billion in active Xcel projects. Wind power accounts more than $2 billion of these projects, and these will go a long way toward fulfilling Xcel's carbon-free plans.
In a company press release, Xcel Chief Executive Officer Ben Fowke said, "We are making great strides toward our ambitious vision to deliver 100% carbon-free electricity to customers by 2050 and have already reduced carbon emissions to our customers by 38% since 2005."
In South Dakota, Xcel plans to begin construction this year on the approximately 600-MW Crowned Ridge wind project. The first phase of the project, which is set to begin this summer, would entail construction of 134 wind turbine generators to generate a little more than 300 MW, while Phase II would include construction of 131 turbines. EAPC Architects Engineers (Grand Forks, North Dakota) is the consultant on the project, which has an overall total investment value (TIV) of more than $930 million. For more information, see Industrial Info's project reports on Crowned Ridge I and Crowned Ridge II.
In North Dakota, Xcel is underway with construction on the Foxtail Windfarm in Dickey County. The facility will use 73 wind turbine generators to generate 150 MW. Construction kicked off last summer and is expected to wrap up later this year. Wanzek Construction is providing engineering, procurement and construction (EPC) on the project, which has an estimated TIV of $247.5 million. For more information, see Industrial Info's project report.
Among the company's other large wind projects is the Sagamore wind project in New Mexico, for which Xcel is awaiting final generation interconnect studies and agreements, according to Fowkes. Construction on the 522-MW facility is expected to kick off this year, using 261 2-MW wind turbine generators. The $865 million project is expected to take about a year to complete. Wanzek Construction is providing EPC. For more information, see Industrial Info's project report.
Wind isn't the only means by which Xcel hopes to reduce its carbon emissions. In Colorado, Xcel is at work an uprate for units 1 and 2 at its 300-MW Cabin Creek pumped storage hydropower station near Georgetown. The project entails enlarging the reservoir storage capacity by 75 acre-feet, the replacement of turbine runners and equipment refurbishment. The project will increase generation capacity by 36 MW. Construction began last summer and is expected to be completed in the first half of 2020. GE Renewable Energy, a subsidiary of General Electric Company (NSYE:GE) (Boston, Massachusetts), is providing EPC. For more information, see Industrial Info's project report.
Xcel reported first-quarter 2019 net income of $315 million, compared with $291 million a year earlier.
Industrial Info Resources (IIR), with global headquarters in Sugar Land, Texas, six offices in North America and 12 international offices, is the leading provider of global market intelligence specializing in the industrial process, heavy manufacturing and energy markets. Industrial Info's quality-assurance philosophy, the Living Forward Reporting Principle, provides up-to-the-minute intelligence on what's happening now, while constantly keeping track of future opportunities. Follow IIR on: Facebook - Twitter - LinkedIn. For more information on our coverage, send inquiries to info@industrialinfo.com or visit us online at http://www.industrialinfo.com.
In a company press release, Xcel Chief Executive Officer Ben Fowke said, "We are making great strides toward our ambitious vision to deliver 100% carbon-free electricity to customers by 2050 and have already reduced carbon emissions to our customers by 38% since 2005."
In South Dakota, Xcel plans to begin construction this year on the approximately 600-MW Crowned Ridge wind project. The first phase of the project, which is set to begin this summer, would entail construction of 134 wind turbine generators to generate a little more than 300 MW, while Phase II would include construction of 131 turbines. EAPC Architects Engineers (Grand Forks, North Dakota) is the consultant on the project, which has an overall total investment value (TIV) of more than $930 million. For more information, see Industrial Info's project reports on Crowned Ridge I and Crowned Ridge II.
In North Dakota, Xcel is underway with construction on the Foxtail Windfarm in Dickey County. The facility will use 73 wind turbine generators to generate 150 MW. Construction kicked off last summer and is expected to wrap up later this year. Wanzek Construction is providing engineering, procurement and construction (EPC) on the project, which has an estimated TIV of $247.5 million. For more information, see Industrial Info's project report.
Among the company's other large wind projects is the Sagamore wind project in New Mexico, for which Xcel is awaiting final generation interconnect studies and agreements, according to Fowkes. Construction on the 522-MW facility is expected to kick off this year, using 261 2-MW wind turbine generators. The $865 million project is expected to take about a year to complete. Wanzek Construction is providing EPC. For more information, see Industrial Info's project report.
Wind isn't the only means by which Xcel hopes to reduce its carbon emissions. In Colorado, Xcel is at work an uprate for units 1 and 2 at its 300-MW Cabin Creek pumped storage hydropower station near Georgetown. The project entails enlarging the reservoir storage capacity by 75 acre-feet, the replacement of turbine runners and equipment refurbishment. The project will increase generation capacity by 36 MW. Construction began last summer and is expected to be completed in the first half of 2020. GE Renewable Energy, a subsidiary of General Electric Company (NSYE:GE) (Boston, Massachusetts), is providing EPC. For more information, see Industrial Info's project report.
Xcel reported first-quarter 2019 net income of $315 million, compared with $291 million a year earlier.
Industrial Info Resources (IIR), with global headquarters in Sugar Land, Texas, six offices in North America and 12 international offices, is the leading provider of global market intelligence specializing in the industrial process, heavy manufacturing and energy markets. Industrial Info's quality-assurance philosophy, the Living Forward Reporting Principle, provides up-to-the-minute intelligence on what's happening now, while constantly keeping track of future opportunities. Follow IIR on: Facebook - Twitter - LinkedIn. For more information on our coverage, send inquiries to info@industrialinfo.com or visit us online at http://www.industrialinfo.com.
