New wind energy system could take root in North DakotaAugust 29, 2013
Xcel Energy seeks approval for fourth wind energy system in the state
Xcel Energy, a leading wind energy developer, has announced plans to build its fourth wind farm in North Dakota. The company has been working to transform the Midwestern U.S. into a wind energy hub and has managed to find significant success in this endeavor. Much of this success is backed by the U.S. federal government, which has attributed a great deal of support to renewable energy in general and wind energy specifically.
New wind farm could power 750,000 homes
The new wind farm is expected to displace some 320,000 tons of carbon dioxide from the environment every year once it is fully operational. Alongside the three other systems based in North Dakota, Xcel Energy’s wind farms could provide enough energy to power 750,000 average homes. This would translate into approximately $220 million in energy savings every year. The economic prospects of wind energy have been one of the most influential aspects powering its adoption.
Company hopes to receive approval for new project soon
Xcel Energy has submitted plans for its new wind energy system to the Minnesota Public Utilities Commission and the North Dakota Public Service Commission. The company hopes to receive approval for its ambitious project by late fall this year. If the company receives approval as expected, it plans to have its wind energy system under construction by 2016.
Xcel Energy works to develop wind energy in other states
The wind energy system in North Dakota is not the only one that Xcel Energy is responsible for. The company also has projects based in Colorado, New Mexico, Oklahoma, and Texas. Each of these projects is expected to save millions in energy costs and satisfy a significant portion of the energy demand in their host states. Xcel Energy has relied heavily on the Production Tax Credit, a federal initiative that provides financial support to wind energy projects, in order to see these projects become a reality.