Xcel Energy Accepts Grant for Becker Battery Project
MINNEAPOLIS (WJON News) - Xcel Energy has accepted a $70 million grant to help fund a long-term battery storage project in Minnesota.
The U.S. Department of Energy grant will help fund the construction of two iron-air battery systems near retiring coal power plants – one at the Comanche Generating Station in Pueblo, Colorado, and the other at the Sherburne County Generating Station in Becker.
Bob Frenzel is the chairman, president, and CEO of Xcel Energy.
As we explore cutting-edge technologies to accelerate our journey toward 100% carbon-free electricity, we are committed to also keeping our services affordable for our customers. The Department of Energy grant provides crucial financial support for projects that will provide reliable, low-cost renewable energy to the communities we serve.
Officials say the proposed systems will deliver up to 100 hours of electricity when needed and strengthen the power grid against day-to-day or week-to-week variability of renewable power.
In addition to funding from the Department of Energy, Xcel Energy received a $20 million grant from the Breakthrough Energy Catalyst fund, and the company plans to use provisions of the Federal Inflation Reduction Act to lower the cost of this new technology.
Construction of the battery system is scheduled to start in the spring of 2024.
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