Xcel close on Colorado target for renewable energy
Xcel Energy Inc. believes it will substantially meet Colorado's year-old mandate of having 30 percent of its electricity come from renewable sources by the middle of 2012, eight years ahead of the 2020 deadline.
And that could mean a slowing of Xcel's rush to build large wind and solar farms in the state, or buy power from such farms, in order to meet the mandate.
“It will probably put a damper on wind project development activity in Colorado, but probably not a complete stop because Colorado has a good wind resource,” said Steve Dayney, CEO of REpower USA Corp., a German wind turbine manufacturer which has its U.S. headquarters in Denver.
Minneapolis-based Xcel (NYSE: XEL) — Colorado’s largest utility, serving 1.3 million customers in the state — may still add renewable energy resources to its power portfolio in the form of new wind or solar power farms in the years ahead.
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