ALBUQUERQUE, N.M. — Xcel Energy has reached an agreement with more stakeholders as it looks for regulatory approval to build two massive wind farms along the Texas-New Mexico border.
The utility announced Tuesday it reached a proposed agreement with parties in Texas that would guarantee customers see a positive net benefit from the wind farms for the first 10 years of operation.
The agreement also caps related construction costs that could be recovered through customer rates.
A similar agreement was reached recently with the New Mexico attorney general’s office and consumer advocates in that state.
Texas and New Mexico regulators are expected to make final decisions on the $1.6 billion project next month.
Xcel says the wind farms would take advantage of the least expensive generating resource in the region and would ultimately save customers money.