Today’s article xcel Energy has entered the renewable energy business, but the company has yet to fully prove its commitment to the technology.
It recently completed a $100 million financing round that was led by General Electric.
While the company’s recent acquisition of Energy Transfer Partners is a major move toward a more diversified energy portfolio, the company is still in a holding pattern and is relying on partnerships with other energy companies to make its renewable energy investments work.
The company has not said when it plans to release more information about its renewable portfolio.
As part of its expansion, xcel has also acquired the energy services company Powerstream for $100 billion, bringing the total purchase price of its investments in the energy industry to $1.1 billion.
Powerstream has over 100,000 customers in the United States, Canada, and Europe.
Although xcel does not have an official Renewable Energy portfolio, it has already invested $350 million in companies like Enphase Energy, which is working to build a solar thermal system.
Powerstream is expected to unveil its first full-scale solar thermal project in 2018.
Enphase is also making progress on a project to build an all-electric power plant in Northern California, a project that is expected be completed by 2020.
Enphase is the largest power producer in the Pacific Northwest and is in the midst of a $1 billion expansion of its existing power plant.
The company has invested $300 million in solar power company SunPower, and it is also building a large solar thermal plant in Southern California.
Solar thermal is a renewable energy technology that uses thermal energy to convert heat into electricity.
The technology uses large amounts of thermal energy from the sun to produce power at low temperatures.
In January, Powerstream announced that it was adding 200 MW of new solar thermal capacity to its existing solar thermal projects in Northern and Southern California, the first such expansion in the U.S. PowerStream is also working to install solar thermal on a second solar thermal facility in California’s Central Valley.
SunPower has been developing solar thermal technology for decades.
Its SunPower-Solar Energy Systems has been operating a project in the Central Valley, located in California, that will generate approximately 5,000 MW of solar thermal power by the year 2020.
Other companies that are investing in solar thermal include SolarCity, which purchased solar thermal company SunEdison for $50 billion in December.
SolarCity also invested $400 million in SolarCity Energy Solutions in September, a new venture that will build solar thermal systems in the Mojave Desert.
SolarCity, SunEdision, and Powerstream have been the largest investors in solar PV projects in the past year.
In January, SolarCity invested $700 million in Powerstream.
SolarEdge and SunEdson have also been major investors in SolarWorld, the solar PV company that recently announced it had received $1 trillion in financing from SunEdition.