The proposed projects will increase its wind portfolio to account for 35% of its total energy mix by 2021.

According to the company, the proposed wind farms could be in a combination of owned wind farms and power purchase agreements.

As per the company, it plans to leverage the federal production tax credits to secure low wind energy prices and is making significant investments in wind generation.

Xcel has proposed to build wind farms with a capacity of 1.23GW of wind energy in the states of Texas and New Mexico and is also contemplating to buy power under a long-term contract from another wind facility. These projects are expected to save at least $2.8bn over a 30 year period for customers.

The projects which have been proposed by Xcel energy include a 522MW project in Roosevelt County, New Mexico, a 478MW project in Hale County, Texas, a power purchase agreement (PPA) from 230MW project in Texas and a 200MW project in Minnesota.

The projects also include a 150MW project in North Dakota, two 200MW projects in Minnesota, a 300MW project and a 300MW PPA in South Dakota, a 100MW project in Minnesota, a 100MW project in North Dakota and a 600MW project in Colorado.

During their life time, the 11 wind farms are expected to generate nearly $400m in property taxes and are expected to create at least 2000 jobs during the construction phase in the local communities.

Xcel Energy chairman, president and CEO Ben Fowke said: “We’re investing big in wind because of the tremendous economic value it brings to our customers. With wind energy at historic low prices, we can secure savings that will benefit customers now and for decades to come.

Fowke said: “Our plan delivers on both economic and environmental fronts, as we provide customers the cleaner, renewable resources they want, while continuing to deliver the reliable and low-cost energy they need.”

Recently, Xcel Energy disclosed its proposal to build 1.55GW of new wind energy projects across the states of Minnesota, North Dakota, South Dakota and Iowa.

Image: Xcel Energy proposes to build 3.38GW wind farms in the US. Photo: Courtesy of pakorn/