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The U.S. Department of Energy granted $70 million to Xcel Energy to help build clean energy storage batteries in Colorado and Minnesota, cementing the financing for groundbreaking technologies the state’s largest utility needs to meet greenhouse gas reduction goals. Xcel also has $20 million in funding from the private investment fund Breakthrough Energy Catalyst for its first two iron-air battery arrays, with $10 million each for the Colorado and Minnesota projects. The Colorado iron-air battery, which could be as big as a football field, will go up on the grounds of the Comanche coal-fired power plant in Pueblo that will be retired by 2031. Xcel said it also plans to use storage tax credits in the Inflation Reduction Act to help fund the iron-air batteries. “As we explore cutting-edge technologies to accelerate our journey toward 100% carbon-free electricity, we are committed to also keep our services affordable for our customers,” said Bob Frenzel, chairman, president and CEO of Xcel Energy, in a statement. “The Department of Energy grant provides crucial financial support for projects that will provide reliable, low-cost renewable energy to the communities we serve.”  Sept. 29, 2023 ☀ Auraria Campus ☀ Downtown Denver  GET YOUR TICKET
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