Xcel Energy Looking Out for 250 MW Wind Farm Proposals

Xcel Energy, electricity and natural gas energy providing company, has declared its intention to seek offers for the purchase of a new wind power producing facility to be located in the Upper Midwest. The company is planning to purchase up to 250 MW wind power generating farms that can remain spread within its current service locations.

The company is in the look out of either buying the total power output of the newly created wind generation projects by signing a power purchase accord or looking forward to purchase the wind generation farms to that value. The company is seeking proposals from wind farms that can go into commercial production by 31st December 2012 and announced 15th October as the last date for receiving the proposals. The company has devised a plan to achieve 30% of its produced power from clean energy by the year 2020. The company is looking forward to increase its presence in the wind farm segment to achieve Federal Production Tax Credit, which considerably reduces the cost of investment in wind power generation and makes it more cost-effective than other types of clean energy sources.

Judy Poferl, who leads Northern States Power and Xcel Energy Company as CEO, said that the company is set on the right path to achieve the mandatory renewable energy requirements and the company has formulated a policy to achieve it through the new wind energy sources. She added that the company is looking forward to add its wind power generation to achieve the Federal Production Tax Credit that is due to close by the end of the year 2012 and pass on the savings to its clients.