Businesswire·2026-02-24 14:05Core Insights - Xcel Energy has signed an agreement to power a new Google data center in Pine Island, Minnesota, which will significantly contribute to the state's economy and clean energy goals [1][2] - The partnership aims to ensure that the new energy demands do not increase costs for existing customers while maintaining reliable service [3] Economic Impact - The data center is expected to drive economic development in Minnesota, with incentives for data center operations balancing environmental considerations [5] - The agreement includes a $50 million investment towards Xcel Energy's Capacity*Connect Program to enhance grid reliability [3] Clean Energy Initiatives - Xcel Energy and Google will bring 1,900 megawatts of new clean energy to the grid, including 1,400 MW of wind, 200 MW of solar, and 300 MW of long-duration energy storage [3] - The project features the world's largest battery installation by gigawatt-hour capacity, a 300 megawatt Form Energy iron-air battery system, designed to store energy for extended periods [4] Regulatory Aspects - The Electric Service Agreement will be submitted for review to the Minnesota Public Utilities Commission, which must approve the agreement for it to take effect [5]