AMARILLO—As communities and businesses across Texas and New Mexico continue to grow, Xcel Energy (NASDAQ: XEL) has selected a proposed portfolio of new power generation projects designed to provide reliable power, manage costs and deliver long-term customer value.

The proposed portfolio includes 3,928 megawatts of new generation resources expected to come online by 2030. Selected through a competitive all-source request for proposals process, the projects represent a balanced mix of resources designed to strengthen reliability and support the region's continued growth.

“Every decision we make starts with our customers,” said Brad Baldridge, interim president, Xcel Energy – Texas, New Mexico. “Our communities depend on reliable energy to support new growth, strengthen local economies and improve quality of life. This portfolio reflects our commitment to preparing for the future responsibly and powering the homes, businesses and opportunities that will shape our region for years to come.”

The proposed portfolio includes:

• Five solar generation projects

• One solar generation project paired with battery energy storage

• Four wind generation projects

• One natural gas generation project

• All projects expected to be in service by 2030

After evaluating more than 50 proposals, Xcel Energy selected the portfolio projected to deliver a strong balance of reliability, affordability and long-term value for customers. This portfolio is in addition to the projects announced last summer, which came from a request for proposals the company issued in 2024.

Planning and beginning work on projects now allows the company to take advantage of favorable market conditions and available federal energy incentives.

Many of the proposed projects rely on wind and solar energy, helping reduce exposure to fuel price volatility and support long-term affordability for customers. Since 2017, Xcel Energy's wind facilities have delivered approximately $1.3 billion in customer savings across Texas and New Mexico through avoided fuel costs and tax credits.

While the proposed generation portfolio is designed to serve growing energy needs across the region, Xcel Energy is also working to ensure new large-energy users pay their own way. The company anticipates filing proposed large load tariffs in Texas and New Mexico that would require high-demand customers, including data centers, to cover the costs needed to serve them rather than shifting those costs to existing customers, helping preserve affordable, reliable service for all customers.

Because new generation resources take years to develop and construct, planning ahead is essential to ensure reliable power remains available as customer needs grow. The selected portfolio combines wind, solar, energy storage and dispatchable gas generation resources to create a balanced energy mix designed to deliver electricity reliably under a wide range of conditions, including periods of extreme weather. Natural gas generation provides on-demand power quickly when customer needs increase or renewable resources are limited.

Together, these projects will help ensure customers have the reliable power they depend on as the region continues to grow. In addition to supporting economic development, the portfolio is expected to create jobs and help build the energy infrastructure needed to power communities across Texas and New Mexico for years to come.

The proposed portfolio remains subject to regulatory review and approval.