Xcel energy has entered into two long-term power purchase agreements (PPAs) with Florida-based NextEra Energy Resources.
According to the agreement, the company will purchase 140 MW solar energy from two PV solar plants, located near Roswell in New Mexico.
Xcel plans to add the 140MW before the federal investment tax credits end for new projects in 2016.
The two PPAs are now up for approval by the New Mexico Public Regulation Commission.
Xcel planned on gaining up to 200MW of solar energy for its Texas-New Mexico base, the company announced in 2014.
NextEra was planning on building three solar projects near Roswell, New Mexico.
The energy generation of two of these three projects is the components of Xcel’s current purchase.
In January, SunShare entered into a partnership with Mortenson construction firm for establishing community solar gardens in Minnesota.
The renewable electricity generated will be supplied to Xcel Energy.
Lately, Xcel Energy announced a plan to double its renewable energy target by 2030, lifting solar contribution from present 14 MW to 2,400 MW.
In another development, Xcel Energy signed deals with three energy developers to construct up to three solar panels near North Branch, Marshall and Tracy near Minnesota to be completed by 2016, reports StarTribune business.
Xcel plans to go ahead with at least two of the projects, a 62 MW system near Marshall proposed by NextEra Energy and a 25 MW array near Tracy planned by Juwi Solar.
The largest of the proposed projects is a 100 MW solar generator near North Branch, to be built by Community Energy Resources.
Sabeena Wahid
[email protected]