Xcel Energy to Expand Renewable Generation Over Next Five Years
By Editors of Power Engineering
Xcel Energy’s latest corporate responsibility report indicates the company plans to increase its proportion of renewable energy generation from 25 percent of its total in 2016 to more than 40 percent by 2021.
The company plans to increase that proportion by pursuing “the nation’s largest multi-state investment in wind energy” with 3,380 MW of new developments slated in seven states. Those new facilities will increase Xcel’s proportion of renewable generation from 19 percent in 2016 to 34 percent in the next five years.
Xcel has already reduced its carbon emissions 30 percent than 2005, which is four years earlier than expected. The new wind developments should move the total reductions to 45 percent by 2021.
Of the utility’s projects finished in 2016, Xcel featured the 200-MW Courtenay Wind Farm in North Dakota and battery storage energy partnerships with Panasonic and Denver International Airport.
The company also noted it has retired its older coal-fired units and replacing some facilities with natural gas. Coal fell from 56 percent of Xcel’s generation in 2005 to 37 percent in 2016, and is expected to fall further to 35 percent in 2021.
The proportion of natural gas generation is also expected to fall from 25 percent in 2016 to 12 percent in 2021.
“We know our success is tied to our communities’ success,” said Ben Fowke, chairman, president and CEO of Xcel Energy. “Growing and vibrant communities support our business, while clean and affordable energy powers our communities. As a responsible community partner, we are committed to delivering on our shared goals and continually raise the bar on our performance.”