Xcel Energy advances 2024 Resource Plan to add 3.6GW new renewables

Facebook
Twitter
LinkedIn
Reddit
Email
Xcel’s Sherco Solar plant will now have a total capacity of 710MW. Image: Xcel

US electricity utility Xcel Energy has reached an agreement on its 2024 Resource Plan which it says will reduce its carbon emissions by 80% and increase the rollout of renewable energy capacity.

Dubbed the Upper Midwest Energy Plan, Xcel Energy agreed on the deal with the Minnesota Department of Commerce, clean energy organisations, labour unions, and energy developers, the company said. The proposal will deploy 3.6GW of renewable energy generation capacity by 2030 (2.3GW of wind and 400MW of solar PV) in addition to 900MW of energy storage output.

This article requires Premium SubscriptionBasic (FREE) Subscription

Try Premium for just $1

  • Full premium access for the first month at only $1
  • Converts to an annual rate after 30 days unless cancelled
  • Cancel anytime during the trial period

Premium Benefits

  • Expert industry analysis and interviews
  • Digital access to PV Tech Power journal
  • Exclusive event discounts

Or get the full Premium subscription right away

Or continue reading this article for free

Xcel said that the proposals are in addition to projects which have already received regulatory approval and will cover operations in the US states of Minnesota, Wisconsin, North Dakota, South Dakota and Michigan.

The utility specifically highlighted the Sherco plant, a retired coal generation site which Xcel is replacing with a 710MW solar PV site. The new agreement plans to add a 300MW lithium-ion battery at the site.

Xcel will also extend the use of its two carbon-free nuclear plants at Prairie Island and Monticello through the early 2050s.

This agreement builds on the announcement of the plans in February this year when Xcel also announced plans for 2.2GW of “always available resources” to function as a backup to its expanded renewable energy portfolio. This has been replaced with more concrete plans for a hydrogen-capable natural gas-fired power plant in Lyon County, Minnesota.

Ryan Long, president of Xcel Energy—Minnesota, South Dakota and North Dakota, said: “This plan invests in innovation that maximises value for customers, creates jobs, and supports the communities we serve. We’re making great progress toward our vision for reliable, affordable, 100% carbon-free electricity, and we appreciate the support of our stakeholders on an agreement that allows us to keep building the clean energy economy of the future.”

A final decision on the agreement is expected in early 2025, until which point the public can make comments through the Minnesota Public Utilities Commission process.

The Midcontinent Independent Transmission System Operator (MISO) – the interconnection zone in which Xcel operates – has been slow on the uptake of solar PV in comparison to other independent system operators (ISO) in the US. Recently, following an uptick in announcements for solar projects in the region, PV Tech Premium looked into the growth of the technology across the MISO.

7 October 2025
San Francisco Bay Area, USA
PV Tech has been running an annual PV CellTech Conference since 2016. PV CellTech USA, on 7-8 October 2025 is our third PV CellTech conference dedicated to the U.S. manufacturing sector. The events in 2023 and 2024 were a sell out success and 2025 will once again gather the key stakeholders from PV manufacturing, equipment/materials, policy-making and strategy, capital equipment investment and all interested downstream channels and third-party entities. The goal is simple: to map out PV manufacturing in the U.S. out to 2030 and beyond.
21 October 2025
New York, USA
Returning for its 12th edition, Solar and Storage Finance USA Summit remains the annual event where decision-makers at the forefront of solar and storage projects across the United States and capital converge. Featuring the most active solar and storage transactors, join us for a packed two-days of deal-making, learning and networking.
16 June 2026
Napa, USA
PV Tech has been running PV ModuleTech Conferences since 2017. PV ModuleTech USA, on 16-17 June 2026, will be our fifth PV ModulelTech conference dedicated to the U.S. utility scale solar sector. The event will gather the key stakeholders from solar developers, solar asset owners and investors, PV manufacturing, policy-making and and all interested downstream channels and third-party entities. The goal is simple: to map out the PV module supply channels to the U.S. out to 2027 and beyond.

Read Next

September 18, 2025
CERC is finalising guidelines for virtual power purchase agreements (vPPAs) to unlock financing for over 40GW of uncontracted renewable capacity.
September 18, 2025
The capacity of virtual power plants in operation in North America has reached 37.5GW, a 13.7% year-on-year growth, according to Wood Mackenzie.
September 18, 2025
The Canadian Renewable Energy Association (CanREA) has forecast that Canada will add between 17GW and 26GW of solar PV over the next decade.
September 17, 2025
US renewables developer Longroad Energy has reached financial close for its 400MW 1000 Mile solar project in the US state of Texas.
September 17, 2025
Spanish renewables developer and operator Acciona Energía has commissioned its 412MWp Juna solar PV plant in Kawani village in the western state of Rajasthan. 
September 17, 2025
Nexamp has secured US$350 million through a long-term financing facility to expand its 6GW utility-scale solar and battery storage pipeline in the US. 

Subscribe to Newsletter

Upcoming Events

Solar Media Events
September 30, 2025
Seattle, USA
Solar Media Events
October 1, 2025
London, UK
Solar Media Events
October 2, 2025
London,UK
Solar Media Events
October 7, 2025
Manila, Philippines
Solar Media Events
October 7, 2025
San Francisco Bay Area, USA