Xcel Energy has announced plans to add over 5 GW of new generation capacity in Texas and New Mexico by 2030
New projects include 3.2 GW of dispatchable and 1.9 GW of renewable energy generation, comprising solar, wind, battery storage, and gas sources
Some of the projects will leverage existing sites and grid infrastructure to speed up deployment
US-based utility company Xcel Energy is adding over 5 GW of new generation – 3.2 GW dispatchable and 1.9 GW renewable – across Texas and New Mexico by 2030 to support grid reliability and meet growing electricity needs in the Southwest region. The facilities comprise wind, solar, battery storage, and gas power sources.
It plans to add a total of 5.168 GW capacity to the company’s portfolio through the extension of 521 MW of existing generation and addition of 17 new power projects. Many of the projects will be built at existing power plant sites, reducing development timelines by leveraging existing grid infrastructure.
Selected under a competitive procurement process launched in 2024, some of these projects will be built and owned by Xcel Energy, while others will be built by developers and sold to Xcel. Some others will be operated under long-term power purchase agreements (PPA).
“We’re investing in the right mix of resources to benefit customers by keeping electricity reliable and supporting economic growth so we can meet our region’s energy needs today and in the future,” said Xcel Energy—Texas, New Mexico President, Adrian Rodriguez.
The company still needs to secure approval from state regulators for this portfolio in H2 2025, but it is already planning to issue another all-source request for proposals (RFP) to secure additional resources to be operational by 2032.
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