Xcel Energy, has signed a memorandum of understanding (MOU) with a subsidiary of NextEra Energy, Inc. to accelerate the delivery of generation resources to serve large load customers, including data centers.

This MOU represents an expansion of a long-standing commercial relationship between Xcel Energy and NextEra Energy. The parties expect to support existing and new large load opportunities across Xcel Energy’s service territories through improved collaboration on generation, storage and associated transmission investments. This will enable both companies to better anticipate system needs, rapidly assess where large customer demand intersects with available grid and power assets, streamline development timelines, and advance innovative grid technologies for the benefit of all Xcel Energy customers. Xcel Energy expects this agreement will allow it to increase the data center demand that it can serve through the 2030s. Importantly, Xcel Energy is committed to ensuring that its existing customers benefit from new, large loads on its systems and that data centers pay their fair share.