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UTILITY · INVESTOR-OWNED · MN, CO, TX, NM, WI, ND, SD, MI
Utility building wind, solar and 30 GWh of Form batteries for a Google data center. xcelenergy.comNASDAQ: XEL · all utilities
Projects
3
0 operating
Buys from
3
320 MW of capacity
Funds
0
projects with its money
Money in
—
project-specific, disclosed
Builds
0
as developer
Coming up
PROJECT · XCEL–GOOGLE MINNESOTA STORAGEFirst battery modules ship (Form's target)
Minnesota
utilitydive.com →+ THESISOFFTAKE · XCEL–GOOGLE MINNESOTA STORAGEGoogle and Xcel announce 300 MW / 30 GWh of Form batteries in a 1.9 GW clean energy deal
Minnesota
utilitydive.com →+ THESISPROJECT · SHERCO IRON-AIR BATTERYXcel moves commercial operation to Q2 2028, pending Form Energy's schedule
Sherburne County Generating Station, Becker, MN
mn.gov →+ THESISPROJECT · SHERCO IRON-AIR BATTERYDOE says the Sherco and Comanche iron-air demonstration won't proceed; Xcel appeals
Sherburne County Generating Station, Becker, MN
mn.gov →+ THESISPROJECT · COMANCHE IRON-AIR BATTERYDOE says the Sherco and Comanche iron-air demonstration won't proceed; Xcel appeals
Comanche Generating Station, Pueblo, CO
mn.gov →+ THESISFUNDING · SHERCO IRON-AIR BATTERYGrant: US DOE Office of Clean Energy Demonstrations$4.3M
Cancelled · Phases 1–2 for Sherco and Comanche together (up to $70M in later phases); DOE said in Oct 2025 the project won't proceed past the current budget period. Xcel appealed
energy.gov →+ THESISFUNDING · COMANCHE IRON-AIR BATTERYGrant: Breakthrough Energy Catalyst$10M
Announced · Commitment to Xcel for the iron-air test projects
denvergazette.com →+ THESISRecent
Coming up
STEP 5/5 · AT RISK Risk: data-center demand forecasts fallLater phases and options depend on load growth continuing; watch hyperscaler capex guidance.