Xcel s Renewed Emphasis on Renewables Puts Wind in its Sales
Industry Segment: Power | Word Count: 678 Words
Attachment: Xcel4Q20
SUGAR LAND February 1, 2021 Researched by Industrial Info Resources (Sugar Land, Texas) Xcel Energy Incorporated (NASDAQ:XEL) (Minneapolis, Minnesota) weathered a rough 2020 and managed to grow its profits 6% from the previous year, despite a pandemic-fueled drag on sales. The electricity provider was one of the first in the U.S. to target an entirely clean power portfolio by 2050, and its foresight might pay off as a new presidential administration gets serious about renewable energy. Industrial Info is tracking $4.3 billion worth of active projects from Xcel, about $1.7 billion of which is attributed to wind-generation projects, most of which are under construction.