Proposed Dakota Range wind farm begins next phase of clean energy
leadership
MINNEAPOLIS--(BUSINESS WIRE)--
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The corrected release reads:
XCEL ENERGY ANNOUNCES PLANS TO ACHIEVE NATION-LEADING WIND ENERGY
MILESTONE BY 2021
Proposed Dakota Range wind farm begins next phase of clean energy
leadership
Xcel Energy announced plans today to build and own a new 300-megawatt
wind farm in South Dakota, adding to the company’s nation-leading wind
expansion strategy. This project puts Xcel Energy on pace to be the
first utility in the nation to surpass 10,000 megawatts of wind on its
system, which would be more than enough clean energy to power every home
in Minnesota and Wisconsin.
The Dakota Range I and II project, developed by Apex Clean Energy, is
the first publicly announced wind project to advance under the phase
down of federal tax credits. Even without full tax credit, the project’s
cost is low enough to compete with other fuel sources, an investment
that is expected to lower customer bills over the project’s life.
“This is a milestone for our industry and our customers,” said Ben
Fowke, chairman, president and CEO. “Wind provides the clean,
competitively priced energy our customers want. This project proves we
can keep driving the clean energy transition of our supply mix while
keeping customer bills low, even as incentives phase out.”
“Partnering with utilities is one of the principal ways Apex is
achieving its mission to accelerate the shift to clean energy,” said
Mark Goodwin, president and CEO of Apex. “Dakota Range Wind is an ideal
fit for the Xcel Energy generation portfolio. Together, we will provide
new local jobs and a significant source of long-term revenue for Grant
and Codington counties, helping drive the South Dakota economy forward.”
Xcel Energy is already the nation’s No.1 utility wind provider, a
ranking it’s held for more than a decade. This new proposal comes during
“National Clean Energy Week,” which recognizes the clean energy
industry’s three million jobs and the value clean energy technologies
bring to communities across the country.
“Xcel Energy is a pioneering leader in wind energy and we commend the
company’s ground-breaking work that makes wind energy affordable now and
continues to drive down its cost,” said Tom Kiernan, CEO of the American
Wind Energy Association. “The Dakota Range project is important because
it shows us that the American wind industry continues to deliver clean,
reliable, cost-competitive energy even as the value of the production
tax credit is reduced.”
The Dakota Range project, which will use Vestas turbines, is expected to
be operational in 2021, pending regulatory approval. This increases Xcel
Energy’s current wind proposals nationwide to 3,680 megawatts at 13 wind
farms in seven states, adding to its largest multi-state wind investment
in the country. These projects expand Xcel Energy’s wind portfolio 55
percent company wide.
About Xcel Energy
Xcel Energy (NYSE: XEL) provides the energy that powers millions of
homes and businesses across eight Western and Midwestern states.
Headquartered in Minneapolis, the company is an industry leader in
responsibly reducing carbon emissions and producing and delivering clean
energy solutions from a variety of renewable sources at competitive
prices. For more information, visit xcelenergy.com
or follow us on Twitter
and Facebook.
Forward-looking statements
Certain information contained in this release is forward-looking
information based on current expectations and plans that involve risks
and uncertainties. Such forward-looking information includes, among
other things, statements concerning the expected development of future
wind projects, investment amounts and expected fuel savings. Xcel Energy
cautions that certain factors can cause actual results to differ
materially from the forward-looking information that has been provided.
The reader is cautioned not to put undue reliance on this
forward-looking information which is subject to a number of risks,
uncertainties and assumptions. The following factors, in addition to
those discussed in Xcel Energy’s Annual Report on Form 10-K for the
fiscal year ended Dec. 31, 2016 may cause results to differ: the ability
to construct facilities in accordance with the requirements of permits
and licenses, and to satisfy any operational and environmental
performance standards; cost overruns; and the ability to satisfy the
requirements of tax credits and other incentives. Xcel Energy expressly
disclaims any obligation to update any such forward-looking information.
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Xcel Energy Media Relations
612-215-5300
www.xcelenergy.com
Source: Xcel Energy