Xcel Plans to Add 150 Megawatts of Solar to Meet State Mandate

Xcel Energy Inc. (XEL) plans to add as much as 150 megawatts of solar capacity from large-scale power plants in Minnesota by the end of 2016 to meet state mandates.

The company must get 1.5 percent of its power from renewable sources by 2020 to meet a law passed by the state legislature last year, Minneapolis-based Xcel said today in a statement. It estimated that would require about 300 megawatts of solar capacity.

Xcel said large solar farms are more cost-effective than smaller, rooftop systems.

“We plan to leverage the economies of large-scale systems to keep the cost as low as possible for customers,” Dave Sparby, chief executive officer of Xcel’s Northern States Power unit, said in the statement.

To contact the editor responsible for this story: Will Wade at wwade4@bloomberg.net

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