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Symbol XEL
Name Xcel Energy Inc.
Currency USD
Sector Utilities
IndustryGroup Utilities
Industry Electric Utilities
Market NASDAQ Global Select
Country United States
State MN
City Minneapolis
Zipcode 55401
Website http://www.xcelenergy.com
Phase 1 of the Sherco solar power plant in Minnesota has begun operations, replacing coal capacity with 220 megawatts and aiming for 710 megawatts by 2026. Co-located iron-air energy storage, capable of lasting over 100 hours, will enhance grid reliability and support renewable energy integration. Form Energy plans to produce 500 megawatts of iron-air batteries annually at its West Virginia facility, further advancing the transition from coal to cleaner energy sources.
Tech giants Microsoft, Google, and Amazon are investing heavily in small modular reactors (SMRs) to meet their growing energy demands, with Microsoft planning to reactivate a reactor at Three Mile Island and Google ordering seven SMRs from Kairos Power. While these investments signal a shift towards nuclear energy, concerns about safety, waste disposal, and the commercial viability of SMRs remain significant. As the U.S. races to catch up with China's advancements in nuclear technology, the future of SMRs is still uncertain.
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