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

March 3 (Bloomberg) -- Xcel Energy Inc. 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.

Link to Statement:{NSN N1VSZCMEQTXC <GO>}

Link to Company News:{XEL US <Equity> CN <GO>}

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

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