US-based Xcel Energy has outlined plans to add 550MW of wind power to its portfolio of renewable energy system in Colorado by 2016.
This move will increase the company’s wind power generation capacity by 25% to around 2,700MW.
Commenting on the development, Xcel spokesman Mark Stutz said that the cost of wind power has reduced making it affordable.
The electricity generated by the wind power capacity that is being added will be enough to power around 300 homes annually, added Stutz.
Xcel Energy said that the proposed wind power installations are awaiting approval of the Colorado Public Utilities Commission, while the company will negotiate power purchase agreements with selected bidders in June.
Meanwhile, the company generates electricity using coal, nuclear, natural gas, hydro, solar, biomass, oil, and wind energy sources.
It serves residential, commercial, and industrial customers, as well as public authorities in the portions of Colorado, Michigan, Minnesota, New Mexico, North Dakota, South Dakota, Texas, and Wisconsin.