Xcel Energy Announces Multi-State Wind Energy Investment

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Researched by Industrial Info Resources (Sugar Land, Texas)--Xcel Energy Incorporated (NYSE:XEL) (Minneapolis, Minnesota) is proposing the construction of 11 new windfarms in seven states. The projects would allow Xcel to fuel its energy mix by approximately 35% from wind by 2021 if all of the projects are approved and completed. The projects include construction in the Rocky Mountains region, the Midwest and Texas.

"Our plans allow us to harness the wind-rich resources we have in the states we serve and deliver outstanding economic value to our customers while delivering emissions-free energy that will reduce our carbon footprint," said Chief Executive Officer Ben Fowke in a press release regarding the company's plans. Most of the projects are in various stages of regulatory approval and will be developed by different power companies.

Among the largest of the windfarms to be constructed by Xcel is the Hale County Community Windfarm in Texas, which is being developed by Next Energy Incorporated (NYSE:NEE) (Juno Beach, Florida). The 478-megawatt (MW) project is planned to kick off construction in early 2018 and be completed in late 2019. The project will include the construction of 239 2-MW wind turbines. A second 250-MW addition to the project could potentially begin construction toward the end of 2019. For more information, see Industrial Info's project reports on the first and second phases of the project.

In the upper Midwest, one of Xcel's focuses is on the Blazing Star 1 and 2 windfarm developments in Minnesota. The projects are being developed by Geronimo Energy LLC (Edina, Minnesota). Blazing Star 1 will be a 200-MW installation and is planned to kick off construction in the second quarter of 2018 and be completed in summer of 2019. The second phase of the project will add an additional 200 MW of power and is planned to kick off construction in 2020. Phase I of the project has an estimated total investment value (TIV) of $360 million, and Phase II has an estimated TIV of $320 million. For more information, including contact details, see Industrial Info's project reports on Phase I and Phase II of the project.

In the Rocky Mountains region, Xcel is planning the 600-MW Rush Creek windfarm in Cheyenne, Elbert, Kit Carson and Lincoln counties in Colorado. The project will be built in two phases. The first 300-MW phase of construction is planned to kick off in the second quarter of this year and will consist of 150 Vestas 2-MW wind turbines. The first phase is planned for completion in summer 2018. M. A. Mortenson Company (Minneapolis, Minnesota) will be the engineering, procurement and construction firm on the project. The second phase of the project, which will also be 300 MW, is planned to kick off in early 2018 and is scheduled for completion in the second quarter of 2019. Invenergy (Chicago, Illinois) is developing both projects. For more information, see Industrial Info's project reports on Phase I and Phase II of the project.

"We're investing big in wind because of the tremendous economic value it brings our customers," said Fowke. "With wind energy at historic low prices, we can secure savings that will benefit customers now and for decades to come."

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