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4-Traders Homepage  >  Equities  >  Nyse  >  Xcel Energy Inc    XEL

Delayed Quote. Delayed  - 07/25 10:05:23 pm
46.7 USD   -0.43%
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Xcel Energy : Partnership With Xcel Energy to Provide Solar and Wind Energy for Convention Center and Drinking Water Facility

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07/25/2017 | 02:26pm CEST

MINNEAPOLIS, July 24 -- The city of Minneapolis issued the following news:

The Minneapolis Convention Center and one of the City's two drinking water campuses will be powered, in part, by local solar and wind energy from Xcel Energy's Renewable*Connect program. Hundreds of other Minnesota electric customers, including residences, local companies, and schools, have also signed up to receive renewable energy through the program.

The City of Minneapolis and Xcel Energy have a new agreement for the City to purchase 17.8 million kilowatt hours (kWh) of solar and wind energy annually. Of this total, 14 million kWh will be used for the Minneapolis Convention Center; now all of the electricity the convention center uses will be from renewable sources. The other 3.8 million kWh will be used for the City's water treatment services. The total agreement reduces the City's carbon dioxide pollution for streetlights, traffic signals, water treatment and distribution, sewer, and all City-owned buildings by 7,825 metric tons - a 12 percent carbon reduction total for City operations.

Of the electricity that the City of Minneapolis uses overall, 38.6 percent will now come from renewable sources.

Renewable*Connect Government, announced late last year, will power a portion of the newly renovated Minnesota State Capitol.

Approved by the Minnesota Public Utilities Commission in early 2017 and open to all customers, Renewable*Connect provides month-to-month, five-year or ten-year options for participants. Energy from the Odell Wind Farm in southern Minnesota and North Star Solar project in North Branch, Minn., were reserved for the program.

About Renewable*Connect

Renewable*Connect allows customers to subscribe to low-cost wind and solar energy without the need to install and maintain equipment. Customers will have the flexibility to choose how much of their energy usage they wish to subscribe and how long a commitment they wish to make. There are no up-front costs, and prices are known at the start, giving customers more price certainty.

Xcel Energy retires Renewable Energy Credits (RECs) on behalf of program participants, enabling customers to use those credits in their reporting, a key requirement for businesses with sustainability programs. An independent organization, Green-e.org, verifies the REC retirement, providing documentation that the energy used by participating customers is from the dedicated renewable energy source.

Targeted News Service, source News Service

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Financials ($)
Sales 2017 11 807 M
EBIT 2017 2 338 M
Net income 2017 1 175 M
Debt 2017 15 177 M
Yield 2017 3,08%
P/E ratio 2017 20,22
P/E ratio 2018 18,94
EV / Sales 2017 3,29x
EV / Sales 2018 3,24x
Capitalization 23 713 M
Chart XCEL ENERGY INC
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Xcel Energy Inc Technical Analysis Chart | XEL | US98389B1008 | 4-Traders
Technical analysis trends XCEL ENERGY INC
Short TermMid-TermLong Term
TrendsNeutralBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 15
Average target price 46,6 $
Spread / Average Target -0,26%
EPS Revisions
Managers
NameTitle
Benjamin G. S. Fowke Chairman, President & Chief Executive Officer
Kent T. Larson President-Group Operations & Executive VP
Robert C. Frenzel Chief Financial Officer & Executive Vice President
A. Patricia Sampson Independent Director
Richard K. Davis Independent Director
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