Xcel Energy has announced plans to expand power generation in Texas and New Mexico to meet the rising energy needs of its service areas, including extensions of 521 megawatts (MW) of existing generation, in addition to 17 new power projects.
The new projects will add 5,168 MW of new nameplate capacity to the region’s generation fleet by 2030. Technologies selected include 3,200 MW of dispatchable generation and energy storage, as well as 1,968 MW of wind and solar facilities, which will set up long-term system reliability, economic development, and a resilient supply of energy.
Power demand in the region is expected to grow by over 40% by 2030, due to population growth, industrial expansion, and increased electrification.
Xcel’s portfolio supports its broader five-year investment plan for Texas and Mexico, which aims to modernize and expand its energy infrastructure. Many of the projects will be built on existing power plant sites in order to cut down development timelines and utilize existing infrastructure.
“This portfolio is about more than just adding power. We are working to increase speed to market with a stronger, modern and more resilient energy system that our customers can count on,” said Adrian Rodriguez, president, Xcel Energy – Texas, New Mexico, in a statement. “We’re investing in the right mix of resources to benefit customers by keeping electricity reliable and supporting economic growth so we can meet our region’s energy needs today and in the future.”
Xcel will seek approval of the portfolio from state regulators in the second half of 2025.
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