Xcel Energy is planning a major expansion of its electric generation fleet to keep pace with growing demand across Texas and New Mexico. The utility announced a proposed portfolio of projects totaling nearly 4,000 megawatts of new capacity that would come online by 2030, pending regulatory approval.
Expansion Details
The proposal includes new wind farms, solar facilities, battery storage, and a natural gas power plant designed to provide electricity when renewable resources are unavailable. Company officials said the mix of generation sources is intended to balance affordability with grid reliability as communities continue to grow and electricity use rises.
The projects were selected after Xcel reviewed more than 50 proposals submitted through a competitive bidding process. According to the company, renewable energy remains a key part of its long-term strategy because wind and solar projects reduce fuel costs and lessen exposure to swings in natural gas prices.
Xcel also said it expects to propose new rate structures that would require large electricity users, including data centers, to pay the additional costs associated with serving their facilities rather than passing those expenses on to customers. If approved by regulators, the projects are expected to create construction jobs while expanding the region’s energy infrastructure over the next several years.
Original reporting: KOAT Albuquerque — read the source article.
