US-based Xcel Energy has announced an agreement with key stakeholders to advance its Upper Midwest Energy Plan, aiming for over 80% carbon emissions reduction by 2030. According to the company, the plan involves significant investments in battery storage, wind, solar, and a natural gas plant, while extending the life of its two nuclear plants. The agreement, supported by tax credit savings from the Inflation Reduction Act, is expected to keep customer costs low. Xcel Energy plans to add 3,200 MW of wind and 400 MW of solar energy, alongside 600 MW of battery storage by 2030. A final decision is expected in 2025, following public input via the Minnesota Public Utilities Commission.
