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Xcel Energy Supports Sustainability, Growth in New Mexico

Xcel Energy’s innovations will provide positive impacts for the future.

By Livability on November 30, 2022

Xcel Energy, New Mexico
Courtesy of Xcel Energy

New Mexico, with its timeless vistas, is anything but stuck in the past. And the outlook of the company powering a sizable share of New Mexico’s economic growth is uniquely matched to the state’s vision for innovation and growth. 

Xcel Energy in Roswell, NM, can claim New Mexico roots through a predecessor company established in Roswell in 1904. Abundant and affordable electric power helped build the energy and agricultural industries of the eastern New Mexico communities Xcel Energy still serves today. 

“The spirit of cooperation from those early years persists as we work together to develop clean energy resources and technological innovations that will shape economic growth for decades to come,” says Mike McLeod, Xcel Energy regional manager for Community and Economic Development in Roswell. 

Sagamore Wind Project in New Mexico
Courtesy of Xcel Energy

In 2020, Xcel Energy invested more than $900 million in the Sagamore Wind Project in Roosevelt County south of Portales, generating enough electricity to power 194,000 homes annually while saving customers millions in fuel costs. 

Sagamore is playing a leading role in Xcel Energy’s vision to provide 100% carbon-free electricity by 2050 as it and other Xcel Energy renewable resources generated close to 40% of the region’s power needs in 2021. 

New Mexicans can further benefit from these added renewable resources by taking advantage of Xcel Energy’s new electric vehicle incentives that include special charging rates, rebates and affordable charging infrastructure to make it easier for New Mexicans to drive electric. 

To ensure these energy resources are available when and where they’re needed, Xcel Energy has invested more than $3 billion in transmission and substation infrastructure in its New Mexico and Texas regions, with the lion’s share earmarked for New Mexico grid enhancements to support growth in the energy, agricultural and mining industries that benefit all New Mexicans. 

Another way Xcel Energy supports growth is through real estate programs that provide an online inventory of the area’s most marketable industrial sites and buildings at economic development.xcelenergy.com, and by Xcel Energy’s economic development professionals at national trade shows, industry events and presentations to site selectors. 

Site consultants will find information on dozens of characteristics, including robust power capacity and infrastructure, access to transportation and communication networks, and other criteria designed to increase speed to market. 

“New Mexico is driving growth for our company, and we’re committed to investing in its future and supporting our communities in every way possible,” McLeod concludes.

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