Xcel Energy, Minnesota’s leading utility company, has recently revealed its plans of building the country’s largest solar plant costing around USD 575 million with an overall capacity of 460 megawatts. Reports suggest that the project is anticipated to be developed next to Xcel’s existing Sherco coal-fired plant.
It has been speculated that the proposed solar plant would support the replacement of some capacity lost through the retirement of the firm’s 3 Sherco coal generators. Meanwhile, the utility has also put forth plans of building another 750 megawatts gas-fired power plant at Sherco later this decade.
It has been predicted that the Sherco Solar Project would deliver carbon-free energy as Xcel Energy moves ahead with its vision of offering 100% carbon-free electricity by 2050 end.
As per credible reports, the new project, which would be built during 2022 to 2024, will provide enough energy to power about 100,000 homes each year.
President at Xcel Energy-Minnesota, South Dakota, North Dakota, Chris Clark, cited that as the company is continuing to lead the clean energy transition, it seeks to invest heftily in new renewable energy projects that can save customers money while simultaneously reducing carbon.
Moreover, this plan will help the company achieve its bold plan to combat emissions up to 80% by 2030, also enabling it to be constant on its path on delivering 100% carbon-free electricity by 2050 end. Additionally, the solar project would deliver more of the renewable energy customers have been demanding, keeping in mind the bill affordability for a longer time span.
David Reamer, Head of Development, US Onshore Renewables for National Grid Renewables, stated that the organization is proud to collaborate with Xcel Energy on the solar project to offer economic benefits to the home state.