ECONOMIC OPPORTUNITY THROUGH RENEWABLE ENERGY

Economic development is the backbone that supports a growing, thriving state, and North Dakota is one of the clearest examples of that idea. By harnessing the state’s bountiful natural resources, it has become an example in how to grow a strong economy.

One of the major ways this has been made possible is through renewable energy. Renewable energy is good for the environment, but it’s also good for the economy.

Latest Investment: Foxtail Wind Farm

Located in central North Dakota, Foxtail Wind Farm is a standout example of the economic power of renewable energy. Construction is ongoing, and expected to be completed in 2019. This project will:

• Provide low-cost wind energy to nearly 80,000 homes

• Generate millions of dollars in local lease payments and property taxes

• Span 20,000 acres, 99 percent of which will remain available for agricultural production

• Be completed in partnership with local community contractor Wanzek Construction

The future of renewable investment

The future looks bright for North Dakota as we build new wind projects throughout the state and surrounding region. The cost of wind power has significantly declined as turbine technology has improved. Given current low prices and available tax credits, it is an ideal time to invest in wind to benefit customers.

We find that the cost to construct a wind farm is offset by the future fuel savings, providing our customers with clean energy at an affordable cost for years to come. Which is why we have announced plans to grow our wind portfolio 55 percent by the end of 2021. Our plans include 12 new wind farms in seven states that will add nearly 3,700 megawatts of new wind capacity to our system.

To learn more, visit xcelenergy.com/Community.