Xcel to Buy 700 Megawatts of NextEra, Infinity Wind Power

July 11, 2013 by  
Filed under Green Energy News

Xcel Energy Inc. (XEL), the biggest U.S.
provider of wind power, plans to boost its wind capacity by
about 14 percent to reduce fuel costs.

Xcel’s Southwestern Public Service unit is asking
regulators for permission to buy power from almost 700 megawatts
of wind farms in Oklahoma, Texas and New Mexico, the
Minneapolis-based company said yesterday in a statement on its
website.

The deal will save customers $590 million in fuel expenses
over 20 years and the wind farms will generate power at costs
lower than most of Xcel’s natural gas plants, according to Riley Hill, president and chief executive officer of Southwestern
Public Service.

“We are making these acquisitions purely on economics and
the savings we can deliver to our customers,” Hill said in the
statement.

Xcel is planning to buy power from NextEra Energy Inc. (NEE)’s
199-megawatt Mammoth Plains Wind Energy Center in Oklahoma and
249-megawatt Palo Duro Wind Energy Center in Texas, and Infinity
Wind Power Inc.’s 250-megawatt Roosevelt Wind Ranch in New
Mexico
. The utility currently has almost 4,900 megawatts of wind
capacity.

To contact the reporter on this story:
Ehren Goossens in New York at
egoossens1@bloomberg.net

To contact the editor responsible for this story:
Reed Landberg at
landberg@bloomberg.net

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