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Energy & Grid Management
Kent Knutson
Kent Knutson
Top Contributor
·Posted in Energy & Grid Management
Mon, Nov 4

Xcel Energy plans massive $45 billion power grid investment over the next five-years!

“The U.S. energy industry is on the cusp of its biggest transition in a century,” said Bob Frenzel, chairman, president and CEO of Xcel Energy. Driven by nearly 9 gigawatts (GW) of data center demand, among other drivers, including clean energy, customer electrification, load growth and reliability, Xcel Energy plans to spend $45 billion over the next five-years. Key areas of expenditure include distribution ($15.8bn), transmission ($12.6bn), renewables ($5.0bn), electric generation ($4.5bn), and natural gas ($3.4bn). This according to Xcel’s Q3/2024 Earnings Report released on Thursday.

Xcel Energy’s Q3/2024 earnings report news release: https://lnkd.in/dgncMJEt