Xcel substituting more wind for natural gas
August 15, 2013 | By
Barbara Vergetis Lundin
Xcel Energy has proposed the fourth wind project in its Upper Midwest service territory in the past month, which it contends will reduce customer costs and lower carbon emissions.
The 150 MW Border Winds Project brings the total new wind proposed by Xcel Energy in the region to 750 MW. Combined with proposals in Xcel's Colorado and Texas/New Mexico service areas, Xcel since has proposed adding a total of at least 1,650 MW of wind in 2013 alone -- a 30 percent increase in overall wind capacity. "Wind energy is a valuable, low-cost substitute for natural gas and other fuels right now," said Dave Sparby, president and CEO of Northern States Power Co.-Minnesota (NSP), an Xcel Energy company. "These projects will reduce customer costs by providing a valuable hedge to rising and volatile fuel prices well into the future." Border Winds Project would reduce customer costs by an estimated $45 million over the project's life. The total amount saved from the four Upper Midwest projects is expected to be more than $220 million. In July, Xcel requested approval from the Minnesota Public Utilities Commission and the North Dakota Public Service Commission of three wind projects in its NSP territory, including the 200 MW Odell Wind Farm, the 200 MW Courtenay Wind Farm, and the 200 MW Pleasant Valley Wind Project. Decisions are expected by late fall and construction would begin immediately to qualify for the extended federal renewable energy Production Tax Credit. For more: Related Articles: Sign up for our FREE newsletter for more news like this sent to your inbox! © 2013 FierceMarkets. All rights reserved. http://www.fierceenergy.com http://www.fierceenergy.com/story/xcel-substituting-more-wind-natural-gas/2013-08-15 |