Xcel Energy, Form Energy partner on energy storage projects

On Thursday, Xcel Energy and Form Energy announced that they had entered into agreements to expand access to reliable, low-cost renewable energy as Xcel retires coal plants in Minnesota and Colorado.

The agreements would allow Xcel Energy to deploy Form Energy’s 10MW/1,000 MWh iron-air battery systems at Xcel Energy-Minnesota’s Sherburne County Generating Station in Becker, Minn., and at Xcel Energy-Colorado at the Comanche Generating Station in Pueblo, Col. The agreement would allow Xcel to integrate cost-effective, multi-day energy storage systems into its existing systems and maintain reliability as it retires its coal plants. Both projects are expected to come online in 2025, pending regulatory approvals.

“We’re on track to reduce our electric system carbon emissions 80 percent by 2030 and to deliver carbon-free electricity by 2050,” Chairman, President and CEO of Xcel Energy Bob Frenzel said. “As we build more renewable energy into our systems, our partnership with Form Energy opens the door to significantly improve how we deliver carbon-free energy so that we can continue to provide reliable and affordable electric service to our customers well into the future.”

The two companies have collaborated with Formware, Form Energy’s next-generation investment and operational modeling tool for power grids. This modeling, the companies said, allowed Xcel to see how Form’s multi-day storage would enhance its ability to integrate wind and other renewable energy sources into its system. Additionally, it proved that Form’s 100-hour iron-air battery technology would strengthen the grid against weather variability and extreme weather events like severe storms and polar vortex events.

“Xcel Energy operates across some of the richest wind-resource areas in North America,” said Mateo Jaramillo, CEO and Co-founder of Form Energy. “We’re very pleased to work with the Xcel Energy team to maximize use of its renewable generation by providing a technology solution that will ensure their customers benefit from reliable and cost-effective service year-round. This partnership highlights Xcel Energy’s commitment to ensuring grid resiliency and reliability, energy security, and access to low-cost clean energy when and where it is needed – every day of the year.”