Xcel Energy Retires Coal, €16B for EU Wind Projects

On News Flash this week, substantial investment for renewables
across Europe by the European Investment Bank, Octopus Energy's
"The Collective" proves a success in the UK, and Xcel Energy plans
to eliminate their coal power plants in the US Midwest by 2030.
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things wind technology. This episode is sponsored by Weather
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YouTube channel here. Have a question we can answer on the
show? Email us! Allen Hall: Starting off the week, the
European Investment Bank is making bold moves to accelerate wind
energy development across Europe, signing significant agreements
with both BNP Paribas and Banco Satandier. These partnerships will
generate up to 16 billion euros in wind energy investments through
innovative counter guarantee agreements. The initiatives are part
of the EIB's broader 5 billion euro wind power package,
demonstrating Europe's commitment to renewable energy expansion and
industrial competitiveness. The deals will enable manufacturers to
receive advanced payments and provide performance guarantees for
new wind projects, while also supporting supply chain efficiency
and grid interconnections. This financing structure is backed by
Invest eu, the eus ambitious program aiming to mobilize over 372
billion euros in investments by 2027. 2400 onshore wind turbines
representing 14 gigawatts of capacity. While the upcoming election
has introduced some uncertainty with skepticism from leading
parties, Industry experts still remain optimistic. The CDU, likely
to lead the next government, is expected to maintain support for
wind energy given its reliability and cost effectiveness in
producing clean energy. Over in the UK, Octopus Energy's
groundbreaking investment platform, The Collective, has
demonstrated remarkable success with its first two wind projects
selling out within just one week. The platform democratizes
renewable energy investment by allowing public participation with
investments ranging from 25 to 20, 000 with no fees. Located in
Yorkshire and Wales, these projects attracted hundreds of
investors. And the company is now expanding to expand the platform
through its Pass the Power campaign, inviting more renewable energy
projects to list on the platform. And in the United States, despite
challenging political headwinds, Xcel Energy is making significant
progress in renewable energy deployment in the Upper Midwest. Their
ambitious plan includes adding 3, 400 megawatts of wind energy and
550 megawatts of solar power. The company aims to retire all coal
plants in the region by 2030 and potentially reduce emissions by up
to 88 percent compared to 2005 levels. The plan also includes
innovative energy storage solutions including testing new iron air
battery technology at their Becker site. That's this week's top
news stories. Stay tuned tomorrow for the Uptime Wind Energy
podcast with Rosemary Barnes, Joel Saxum, Phil Totaro, and me.