AMARILLO – Xcel Energy has filed plans to invest about $770 million in existing power-generating facilities by extending the life of two older gas-fueled units, constructing solar generating systems, and adding battery storage.
The plan calls for the construction of three solar-generating facilities—two at Cunningham Station in New Mexico and one at Plant X Generating Station near Earth, Texas.
The upgrades and additions to the generating fleet will return $116 million in added tax revenue to their host communities and save customers $900 million to $2 billion in fuel costs over 35 years. Xcel will pass along the anticipated $500 million in federal solar tax credits as savings to customers over ten years.
Xcel Energy expects to have the new and updated generating resources up by 2026 and 2027.