ALBUQUERQUE, N.M. (AP) — 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.
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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.