Dive Summary:
- Xcel Energy wants to increase its wind capacity by about 25% to over 2,700 MW (megawatts) in Colorado by adding 550 MW of wind power by 2016.
- Although Xcel already has enough wind energy to meet Colorado's renewable portfolio standards, the utility started seeking bids for a new wind project after the recent extension of a federal tax credit for wind project developers.
From the article:
Xcel doesn't need to add more wind power to meet Colorado's renewable energy standards, but utility officials said Thursday that it's economically beneficial to add wind power now at current prices.
The Colorado Public Utilities Commission must approve the wind projects, but Xcel says it expects to begin negotiating power purchase agreements with selected bidders in June, with final commission approval likely to come sometime in October.