Xcel Energy Inc. (NYSE: XEL) signed a contract with NextEra Energy Resources LLC, a unit of NextEra Energy Inc. (NYSE: NEE), to build a 200 MW wind farm in eastern Colorado. Construction will begin in early 2012 with an expected completion date in late 2012.
Xcel solicited bids for 200 MW of wind power in January 2009 but ended those bids in November 2010 because market prices for wind power had dropped due to the economic downturn and a surplus of turbines in the U.S. market. The Colorado Public Utilities Commission approved Xcel’s request to issue new bids for the wind power.
The cost of the NextEra wind farm wasn’t disclosed, but Xcel said the price was nearly 40 percent lower than bids offered in the earlier round.
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