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Xcel Energy Submits IRP to Provide Path to Achieve 100 Percent Carbon-free Energy by 2050

LCG, July 9, 2019--Northern States Power Company, doing business as Xcel Energy, submitted its 2020-2034 Upper Midwest Integrated Resource Plan (IRP) to the Minnesota Public Utilities Commission on July 1. Xcel Energy (Xcel) states that the IRP "charts the path toward achieving some of the most ambitious carbon reduction goals of any utility in the U.S. Specifically - we aim to reduce carbon emissions 80 percent by 2030, and provide 100 percent carbon-free energy by 2050."

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Interest in Eastern Offshore Wind Projects Rising

LCG, July 5, 2019--Two bills were introduced in the U.S. Senate last week to extend the federal Investment Tax Credit (ITC) for offshore wind energy. Federal subsidies, together with offshore wind technology advances and states' plans to increase renewables, may spur rapid investments in offshore wind.

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Industry News

Pattern Development Completes Power Purchase Agreements for 200 MW Wind Project in New Mexico

LCG, August 1, 2018--Pattern Energy Group 2 LP (Pattern Development) yesterday announced it has signed 15-year power purchase agreements (PPAs) with Silicon Valley Clean Energy (SVCE) and Monterey Bay Community Power (MBCP) to deliver wind power from the 200 MW Duran Mesa Wind project currently in development near Corona, New Mexico. SVCE has signed a PPA for 110 MW, and MBCP has signed a PPA for 90 MW.

The SVCE Board Chair stated, "As a Community Choice Energy agency, signing onto a project of this magnitude marks a significant step in our maturity, financial strength and shows our commitment to supplying renewable energy for our communities. Silicon Valley Clean Energy is dedicated to the promise we made to our customers when we formed this agency - that we will provide clean, carbon-free power at competitive rates. This project helps us to continue reaching our decarbonization goals."

Duran Mesa Wind is a 200 MW project within Pattern Development's 2,200 MW Corona Wind Projects in New Mexico. Construction of Duran Mesa Wind is scheduled to begin in late 2019, and the project is expected to reach commercial operation in late 2020.

Electricity generated from the Duran Mesa Wind project will be delivered to California in part via the SunZia Southwest Transmission Project, a 520-mile 500-kV transmission line under development in New Mexico and Arizona that is expected to achieve commercial operation in the fourth quarter of 2020. The transmission project includes approximately 320 miles in New Mexico and 200 miles in Arizona. The total estimated capital cost of the SunZia project is about $2 billion.
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