Xcel inked a non-binding MOU with a NextEra subsidiary to co-develop generation, storage, and transmission assets to tackle its 9 GW data center backlog. (DCD)
The partnership marries Xcel’s regulated footprint with NextEra’s development resources to rapidly assess grid capacity and advance innovative grid tech.
In a bid to quell potential ratepayer backlash, Xcel CEO Bob Frenzel stressed that, while they’re aggressively chasing hyperscale-level loads, any new infrastructure will be funded by Big Tech itself.
While we’re here: Xcel also announced plans to propose new large load tariffs in Minnesota, Wisconsin, Colorado, and Texas (with more potentially on the way) to ensure the 6 GW of contracted data centers in its queue by 2027 don’t impact existing customers.