Minnesota Commission Green Lights Xcel Energy’s Midwest Wind Expansion

The Minnesota Public Utilities Commission has approved Xcel Energy’s plan for the largest expansion of wind energy in the Upper Midwest. The North Dakota Public Service Commission will review the plan later this year. The new wind projects will save Xcel Energy customers billions of dollars in fuel and other costs, as compared to the
costs of other energy sources. Seven new wind farms are slated to be built in Iowa, Minnesota, North Dakota and
South Dakota and will be operational by the end of 2020. The projects will provide enough energy to power more than 800,000 homes, increasing Xcel Energy’s regional wind output by approximately 70 percent.

“We’re investing in low-cost wind energy to provide the benefits of clean, affordable energy directly to our
customers,” said Chris Clark, president, Xcel Energy-Minnesota. “These projects deliver on our plan to keep
energy costs low while also reducing carbon emissions by more than 60 percent in the coming decades.”

With these new wind farms, Xcel Energy is locking in low-cost, carbon-free energy. As no fuel is needed for
wind farms, the cost of electricity from the wind farms is not affected by fuel price spikes. Customers receive the
benefit of low, stable electricity prices from these wind farms for the 25-year life of the projects.

“Our strategy delivers the long-term value our customers tell us they want,” said Clark. “These projects give
our customers both lower bills over the long term and predictable prices in addition to a cleaner energy mix.”

Xcel Energy will own 1,150 megawatts of the new wind energy; the remaining 400 megawatts will be sold to the
company under long-term power purchase agreements.

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