Xcel Preps Massive Plan for Improvements to T&D, Generation

November 4, 2024--Researched by Industrial Info Resources (Sugar Land, Texas)--Xcel Energy Incorporated (NASDAQ:XEL) (Minneapolis, Minnesota) is planning about $45 billion worth of sustainability and infrastructure upgrades over the next five years, an $11 billion increase from its year-earlier projections, the company said last week. Xcel announced its plans following a quarter where it benefited from higher electricity demand and lower costs.

Industrial Info is tracking more than $14.5 billion worth of active and planned projects from Xcel across the U.S., about $9 billion of which is attributed to transmission and distribution (T&D) projects. Xcel provides energy to customers in Colorado, Michigan, Minnesota, New Mexico, North Dakota, South Dakota, Texas and Wisconsin. The bulk of Xcel's T&D projects are divided between Colorado and Minnesota.