GHG Emissions, Utilities - February 1, 2022
Xcel Energy Outlines Path to Offering Net-Zero Gas Service by 2050
Xcel Energy is pursuing an 80% carbon emissions reduction by 2030 and plans to add 10 GW of renewable energy capacity by 2030 in order to be coal-free by 2034.
The energy company set these interim targets in its commitment to offering net-zero gas service by 2050 and reducing emissions from gas generation by 25% by 2030, S&P Global reported. Xcel reported carbon emissions 50% below its 2005 baseline levels in 2021, representing significant progress toward its 80% goal.
The company added 800 MW in pursuit of this target from four wind farms in 2021, putting them on track to achieve their targets on time. The utility is also working on a 560-mile transmission expansion – a $1.7 billion project – to increase its renewables capacity by an additional 5.5 GW.
The 10 GW of new renewables generation capacity will come from proposed Minnesota and Colorado projects coinciding with the closure or conversion of coal plants.
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