The agreement allows Xcel Energy to unlock tax credit savings from the Inflation Reduction Act for renewable generation and energy storage. (Image Credit/Source: Pixabay/Pexels)
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.
Actualize Solar has signed five long-term PPAs in 2024, advancing its 1.5 GW solar project portfolio across six US states. (Image Source: Businesswire)
Located in Enna and Catani a, the 242.78 MW solar plant was designed to produce 400 GWh annually, meeting the needs of 154,000 households. (Inage Source: Iberdola)
Scatec has secured EUR 25 million from IFU, alongside equity and non-recourse debt, for its USD 85 million project financing. (Image Source: Scatec ASA)
EliTe Solar launched its 5 GW PV project in Egypt’s TEDA Suez Zone, set to begin production by September 2025. (Image Source: PRNewswire)