Xcel Energy Secures Google Deal, Sets Large‑Load Tariff
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- Xcel Energy announced a pending deal with Google for a nearly 1 GW data center in Minnesota, requiring Google to cover the entire infrastructure cost.
- Xcel Energy filed a large‑load tariff request in Colorado with terms mirroring the Google deal, including long‑term contracts, termination fees, credit requirements, and incremental cost tests.
- Xcel Energy plans to power the Minnesota data center with 1.9 GW of new wind, solar and a 100‑hour iron‑air battery, prioritizing wind and solar to capture expiring clean‑energy tax credits.
- Xcel Energy aims to deploy 2.1 GW of wind, solar and battery resources in 2024, and 2.2 GW per year in 2027‑2028, while building 1,500 mi of transmission and 3 GW of new gas generation by 2030.
- Xcel Energy has 2 GW of data‑center load under contract and a pipeline of 20 GW, targeting an additional 6 GW of data‑center load contracts by year‑end.
Why it matters: Xcel secures a guaranteed revenue stream from Google’s 1 GW data center, while regulators and existing ratepayers avoid higher bills; the deal accelerates 1.9 GW of wind/solar build‑out by 2024, delivering clean power for new industrial loads.
