POWER March 2016 - 43

GENERATION TRANSITIONS
3. Coal king. At 2,222 MW, the Sherburne County (Sherco) Generating Station is the largest
of Xcel's plants. Courtesy: Xcel Energy
Plan-assuming the regulatory regime
survives court scrutiny and, perhaps, a new
administration in Washington less focused
on reducing CO2
. Even if the federal plan
collapses, Xcel will continue its transition
to renewables.
Look for Xcel to continue converting
power purchase agreements with non-utility
wind generators into utility-owned projects.
It's also likely that large-scale solar investments
will be high on the company's capital
agenda.
" It's been a journey for us, " said Larson.
" We started down this path more than a decade
ago, and we have plans to continue for
the next decade, in a great partnership with
our policy makers. " Xcel believes it is on the
leading edge of an industry-wide transition
that will play out over several years.
How will investors view that green-oriented
Taking the Long View
What's ahead for Xcel Energy? As with
many electric generators in transition, the
future is far from clear, although the general
direction might be discernible through the
fog of politics, regulation, and economics.
The company's focus on moving from coal to
renewables, particularly wind, appears likely
to continue.
In Minnesota, the company got 14% of
its electricity from wind in 2014. Xcel says
it hopes to see that grow to 25% by 2030,
the target date for achieving the goals of
the federal government's Clean Power
strategy? The Motley Fool investment website,
which collects a number of analysts' recommendations,
says the best strategy for investors
is largely a wait-and-see play on Xcel.
Four analysts who follow the company rate it
a strong buy, and eight call Xcel a " hold. " ■
-Kennedy Maize is a long-time energy
journalist and frequent contributor to
POWER.
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a unit of Optimus Industries, LLC.
www.chanutemfg.com
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POWER March 2016

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