Company is expanding wind generation, using nuclear energy, adding a natural gas plant
Xcel Energy announced plans today to retire its last two coal plants in the Upper Midwest a decade earlier than scheduled. Xcel plans to expand wind and solar, using natural gas and operate its carbon-free Monticello nuclear plant until at least 2040.
If approved, the plan would lead to a more than 80% reduction in carbon emissions in the region by 2030, compared to 2005, a key stepping stone toward the company achieving its vision to provide customers 100% carbon-free electricity by 2050.
Milestones include:
- 2022 – Completing largest-ever wind expansion, adding 1,850 megawatts of wind. At that point, more than 30% of customers’ energy in the Upper Midwest will come from wind.
- 2030 – More than 50% of our customers’ energy in the region will be from renewables
- Closure in 2030 of our final coal plant in the region, the Sherco 3 plant, following the closure of the Allen S. King coal plant in 2028.
- A major expansion of solar energy, with more than 3,000 megawatts of new universal solar added by 2030.
As part of its plan, Xcel said it is purchasing a natural gas plant, the Mankato Energy Center.
