Xcel Energy receives $100M U.S. DoE grant to mitigate wildfire threat

Xcel Energy announced it has been selected for a $100M award from the U.S. Department of Energy, DoE, to boost its work to reduce and mitigate the threat of wildfires and ensure the resiliency of the grid through extreme weather. The funding, provided through the Grid Resilience and Innovation Partnerships program and matched by a $140M cost share provided by Xcel Energy, will support a range of projects that enhance the grid’s resiliency in the face of fires, severe storms, and other adverse environmental conditions to better protect lives, homes and forests while reducing and preventing power outages. The projects will be based in Colorado, Minnesota, New Mexico, Texas and Wisconsin. “We recognize that the year-round risk of wildfires has grown, along with the severity of storms and other weather events that threaten the grid,” said Bob Frenzel, chairman, president and CEO of Xcel Energy. “This funding from the Department of Energy will enhance our ability to meet this rising challenge with decisive action while reducing carbon emissions and ensuring reliable affordable and clean power for our customers.” As climate conditions have changed, environmental impacts to the power grid have grown more severe and frequent. Areas with traditional fire seasons, for example, have seen them evolve into year-round battles against rapidly changing and extreme weather conditions that can generate larger, more intense and faster-moving wildfires. The projects are expected to span five years, with detailed design and planning starting in 2024 and projects completing by late 2028. The Department of Energy grant is contingent on negotiation and project logistics.