Minneapolis-based Xcel Energy said last week it will build 17 new power projects in Texas and New Mexico to add 5,168 megawatts of new capacity to Xcel’s generation fleet by 2030. That includes 3,200 megawatts of dispatchable generation and energy storage and 1,968 megawatts of wind and solar facilities. The region’s electricity demand is expected to grow by at least 40 percent by 2030 because of population growth, industrial expansion, and increased electrification, including by the oil and gas industry.
Adrian Rodriguez, regional president for Xcel Energy, said July 17, “This portfolio is about more than just adding power. We are working to increase speed to market with a modern and more resilient energy system that our customers can count on.”
Many of the proposed projects will be built at existing power plants to reduce development timelines. And there are a variety of ownership structures, including some built and owned by Xcel and some by developers with long-term agreements to sell power to Xcel. In Texas the projects will help meet growing demand in high-growth areas, including Panhandle and west Texas. Xcel generates and distributes electricity and gas to customers in Texas, New Mexico and six other states.
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