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3 Large Wind Farms Coming to North West

It is looking for regulatory clearance for the deals


wind energy 630Residents of Minnesota and North Dakota can expect to see more wind farms over the next few years.

On Tuesday, Xcel Energy (XEL) unveiled plans to add 600 megawatts of electricity from three new wind farms to its power grid in the two states. The wind farms will produce enough power to serve 180,000 homes, the Star Tribune notes.

6 Electrical Equipment Stocks to Sell Now
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The company has retained RES Americas Development to build a wind farm near the town of Austin, Minn. It will also purchase power from two wind farms being built by Geronimo Energy in Windom, Minn. and Jamestown, N.D. Approval from state regulators is needed before construction of the wind farms can begin.

While the terms of the deals were not revealed, Geronimo has previously noted that its 200-megawatt wind farms cost $350 million to build.

The three new wind farms are forecast to start operations by 2015.

Shares of Xcel Energy rose fractionally in Friday midday trading.

Article printed from InvestorPlace Media,

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