Xcel Energy Inc. is a utility holding company based in Minneapolis, Minnesota, serving more than 3.3 million electric customers and 1.8 million natural gas customers. It consists of four subsidiaries: Northern States Power-Minnesota, Northern States Power-Wisconsin, Public Service Company of Colorado, and Southwestern Public Service Co.. Benjamin G.S. Fowke III is the Chairman, CEO, and President. Wikipedia.
News Article | May 30, 2017
MINNEAPOLIS--(BUSINESS WIRE)--Xcel Energy demonstrated its environmental leadership in 2016 by reducing carbon emissions 30 percent and expanding its renewable energy portfolio. The company released its Corporate Responsibility Report highlighting results Xcel Energy achieved as it transitions to cleaner energy sources and provides other benefits to the communities it serves, including industry-leading energy efficiency programs, economic development and energy assistance support. “We know our success is tied to our communities’ success,” said Ben Fowke, chairman, president and CEO, Xcel Energy. “Growing and vibrant communities support our business, while clean and affordable energy powers our communities. As a responsible community partner, we are committed to delivering on our shared goals and continually raise the bar on our performance.” In 2016, Xcel Energy reduced carbon emissions 30 percent since 2005, four years earlier than expected and now anticipates it will achieve at least a 45 percent reduction in carbon emissions system wide by 2021. The emission reductions result from a number of steps the company is taking to transform how it produces and delivers energy, including adding significant amounts of low-cost wind and solar energy and encouraging energy efficiency. The company is also retiring aging coal units and repowering some facilities with cleaner natural gas. In 2016, renewable energy made up 25 percent of Xcel Energy’s electricity supply. By 2021 more than 40 percent of its electricity is expected to come from renewables as the company pursues the nation’s largest multi-state investment in wind energy with new wind farms planned in seven states. Xcel Energy (NYSE: XEL) provides the energy that powers millions of homes and businesses across eight Western and Midwestern states. Headquartered in Minneapolis, the company is an industry leader in responsibly reducing carbon emissions and producing and delivering clean energy solutions from a variety of renewable sources at competitive prices. For more information, visit xcelenergy.com or follow us on Twitter and Facebook.
News Article | May 25, 2017
Grid reliability, security and diversity: Another way wind works for America “What happens when the wind doesn’t blow or the sun doesn’t shine?” That’s a common question from those wanting to understand how grid operators integrate renewable energy. Fortunately, the experts who keep the lights on every day find they can reliably handle large amounts of wind and solar energy. Grid operators have always balanced major shifts in supply and demand. Factories, air conditioners and appliances turn on and off in waves, varying by time of day and season. Major spikes occur from events as simple as halftime during a football game, when millions of refrigerator doors open. Large coal, gas, and nuclear power plants can also break down unexpectedly, suddenly removing significant amounts of electricity from the system. Meanwhile, spread across 41 states, the output of America’s 53,000 utility-scale wind turbines stays relatively constant. Changes are slow and predictable based on weather forecasting, and are mostly canceled out by far greater variations in demand and other supply. It’s generally more expensive for grid operators to accommodate the abrupt loss of a large conventional generator, because that requires keeping fast-acting backup resources “spinning” 24/7. A prime example occurred during 2014’s Polar Vortex weather event. The bitter cold and loss of gas supply forced many conventional power plants to shut down abruptly. At the same time, high demand for home heating sent natural gas prices and electricity prices skyrocketing. However, wind turbines kept reliably generating electricity, saving Great Lakes and Mid-Atlantic consumers over $1 billion in two days. The U.S. has enough installed wind power to supply the equivalent of 25 million homes. So utilities and grid operators have already had ample opportunity to figure out how to integrate wind energy. Xcel Energy’s Colorado Balancing Authority already runs on 20 percent renewable energy. ERCOT in Texas got 15 percent of its electricity from wind in 2016. The Southwest Power Pool (SPP), grid manager across parts of 14 states, is nearing 20 percent wind year-round — and just peaked at 54 percent wind earlier this year. PJM, the country’s largest grid operator, recently found it could handle over 75 percent wind power reliably. “Ten years ago we thought hitting even a 25 percent wind-penetration level would be extremely challenging, and any more than that would pose serious threats to reliability,” said Bruce Rew, SPP’s vice president of operations. “Now we have the ability to reliably manage greater than 50 percent. It’s not even our ceiling.” Wind power remains on track to supply 10 percent of U.S. electricity by 2020, adding diversity, security and reliability to our electric grid. The men and women keeping our lights on already know wind works, and by helping ensure the country’s grid stays secure, wind works for all Americans.
News Article | May 25, 2017
As part of our efforts in Minnesota to promote the benefits of EVs, GPI conducted an analysis in 2016 of the emissions impacts of EVs and found that they provide large GHG reductions in the state as well as in the broader Midwestern region. Based on data from 2015, EVs had 42% to 61% fewer GHGs compared to gasoline vehicles. We updated our previous analysis with more recent data for Minnesota-based electric utility Xcel Energy’s Northern States Power service territory and the northern region of the Midcontinent Independent System Operator (MISO) footprint. Our analysis with data from 2016-2017 now shows that EVs provide GHG reductions of at least 65% in Xcel’s Northern States Power service territory in 2017 and at least 53% in the greater MISO North Region. Already an improvement from GPI’s 2016 analysis, these emission reductions are set to increase through the year 2030, when an EV charging in Xcel’s territory will result in a per-mile GHG reduction of 75%. Like last year’s analysis, GPI again utilized Argonne National Laboratory’s GREET Lifecycle Model to calculate emissions from gasoline and EVs. The results included emissions for the full lifecycle of a vehicle, including vehicle and battery manufacturing, fuel production and refining, and vehicle operation or fuel combustion. The improvement in GHG reductions was largely caused by two factors: updated generation fuel mix projections from Xcel that include significant new wind capacity and the use of more specific generation fuel mix data published by MISO for the MISO North Region. Since our 2016 analysis was published, Xcel announced plans for 1,550 MW of new wind capacity and has agreed to close the Sherco 1 & 2 coal generators by 2026. In a subsequent response to a Minnesota Public Utilities Commission information request, Xcel listed detailed projections for the generation fuel mix on its NSP System for 2016 to 2032. These projections show a decrease in coal’s generation share from 34% in 2016 to 15% by 2030, along with increases in wind and natural gas. As a result, electricity in Xcel’s service territory will see large reductions in GHG intensity over the next 15 years. With these figures, GPI was able to update its calculation of GHG intensity for EVs. An EV charging in Xcel’s service territory will produce 163.5 grams of GHGs per mile (g/mile) in 2017, and only 118.5 g/mile in 2030, compared to a gasoline GHG intensity of 464.6 g/mile. For those EVs outside of Xcel’s Service territory, the generation fuel mix of MISO’s North Region provides a good estimate for GHG intensity across the Upper Midwest. Our previous analysis used the fuel mix from the entire MISO region, which includes fossil fuel heavy states such as Arkansas, Louisana, and Mississippi in the South Region. Further study of the MISO region has indicated that a significant transmission barrier exists between the South Region and MISO’s North Region, where wind power is more prevalent. While MISO is currently scoping transmission improvements that would improve the flow of electricity between these regions in the future, the most accurate current estimate for electricity in the Upper Midwest should use MISO’s North Region. In 2016, MISO reported a fuel mix for its North Region of 28% wind power, 48% coal, 14% nuclear, 8% natural gas, and 2% hydro. This results in a GHG intensity of 218.3 g/mile for EVs in the MISO North Region, compared to last year’s estimate of 267.9 g/mile for the entire MISO territory. This update to GPI’s 2016 analysis based on 2015 data has found that the GHG benefit of EVs has already improved, with a reduced GHG intensity from 183.1 g/mile in 2015 to 163.5 g/mile in 2017 for Xcel’s service territory. Acknowledgment: Thank you to Andrew Twite at Fresh Energy for feedback on Xcel and MISO fuel mix. GPI facilitates Drive Electric Minnesota, a partnership of local and state government, utilities, private business and nonprofit entities working in collaboration to bring electric vehicles and plug-in charging infrastructure to the state. In addition, GPI recently partnered with several clean energy advocate organizations (Clean Fuels Ohio, Ecology Center, Environmental Law & Policy Center, Fresh Energy, the Sierra Club, and the Natural Resources Defense Council) to form a campaign called Charge Up Midwest dedicated to increasing EV deployment in the Midwest.
News Article | May 25, 2017
The investment will be used to support CIMCON's channel partners and accelerate development and deployment of the company's Smart City product portfolio. "The worldwide upgrade to LED lighting, coupled with added pressure on cities to reduce operating costs and provide enhanced services to residents, has helped drive adoption of our technologies," said Anil Agrawal, Founder & CEO of CIMCON Lighting. "CIMCON delivers immediate value to our customers while providing a clear path to future Smart City applications such as environmental sensors, traffic and pedestrian monitors, video analytics, electric vehicle chargers and smart phone apps. We are pleased to partner with EIP as we respond to customer demand to go beyond intelligent lighting by integrating additional grid edge devices and associated data analytics to help realize their vision for a Smart City." Lindsay Luger, Managing Director at EIP added, "CIMCON's software and hardware solutions provide owners of outdoor lighting with a strong value proposition today, as well as a path to enable Smart City applications of the future. Our utility partners that own and operate city street lights are increasingly interested in improving the cost and performance of these systems, as well as providing the public with additional services. We are excited about the natural fit between the utilities' strategic direction and CIMCON's capabilities and vision." About CIMCON Lighting, Inc. With a heritage of over 25 years of innovation and experience in industrial automation and outdoor wireless applications, CIMCON Lighting is the world's leading provider of intelligent wireless outdoor lighting controls and Internet of Things (IoT)-enabled Smart City lighting management solutions. The company's technologies provide a future-proof platform that enables cities to begin their path to "smart" by managing, monitoring, metering and even monetizing street lights and other assets to improve quality of life for city residents. CIMCON's solutions are appropriate for street and roadway lighting, parking lots and garages, business and college campuses, and a variety of industrial applications. For more information, please visit www.cimconlighting.com. About Energy Impact Partners Energy Impact Partners is a collaborative strategic investment firm that invests in companies optimizing energy consumption and improving sustainable energy generation. Through close collaboration with its strategic investor base, EIP seeks to bring the best companies, buying power and vision in the industry to bear on the emerging energy landscape. EIP's partners include Southern Company, National Grid, Xcel Energy, Ameren, Great Plains Energy, Fortis Inc., AGL, Avista, Madison Gas and Electric Co., and TEPCO. For more information, visit www.energyimpactpartners.com. To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/cimcon-lighting-raises-15-million-300463349.html
News Article | May 26, 2017
The Company acquired 202 7th Street West, located in St. Paul, Minnesota, for approximately $61.5 million. The newly constructed property is currently 42% leased and consists of 191 rentable units featuring desirable interior finishes, fitness club, rooftop pool deck, sky lounge, club room and concierge services, as well as indoor parking, bike storage, and a dog wash station. The building also features nearly 12,000 square feet of fully leased street level retail space. The property is located in one of St. Paul's most vibrant neighborhoods, steps away from entertainment, restaurants and employment centers, as well as local landmarks such as the Mississippi River, The Science Museum of Minnesota, Xcel Energy Center, and Ordway Theater. IRET focuses on the acquisition, development, redevelopment and management of multifamily communities located primarily in select growth markets throughout the Midwest. As of January 31, 2017, IRET owned interests in 130 properties that were held for investment, consisting of: (1) 86 multifamily properties consisting of 12,813 units, and (2) 44 commercial properties, including 30 healthcare properties, containing a total of approximately 2.7 million square feet of leasable space. IRET's common shares and Series B preferred shares are publicly traded on the New York Stock Exchange (NYSE symbols: IRET and IRETPRB, respectively). IRET's press releases and supplemental information are available on its website at www.iret.com or by contacting Investor Relations at 701-837-7104. Certain statements in this press release, including statements regarding IRET's plans and expectations with respect to its strategic transformation are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements involve known and unknown risks, uncertainties and other factors that may cause actual results to differ materially from projected results. Such risks, uncertainties and other factors include, but are not limited to: changes in operating costs; the effect of government regulation; the availability of capital; changes in general and local economic and real estate market conditions; IRET's ability to complete acquisitions and dispositions on attractive terms, or at all; IRET's ability to manage its current debt levels and repay or refinance its indebtedness upon maturity or other payment dates; IRET's ability to maintain financial covenant compliance under its debt agreements; fluctuations in interest rates; IRET's ability to maintain effective internal controls over financial reporting and disclosure controls and procedures; competition; IRET's ability to attract and retain skilled personnel; and those risks and uncertainties detailed from time to time in IRET's filings with the Securities and Exchange Commission, including its Annual Report on Form 10-K for the fiscal year ended April 30, 2016. We assume no obligation to update or supplement forward-looking statements that become untrue because of subsequent events. To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/iret-acquires-multifamily-property-for-615-million-300464391.html
News Article | May 27, 2017
In this digital world, reaching out to the targeted customer is a big challenge and is at present, very inefficient. Businesses today are not able to navigate through the enormous amount of data available (zillions of records) efficiently. To help our customers stay focused on their core business areas, XCEL Corp is excited to launch a Next Generation Artificial Intelligence and Predictive Analysis Digital Marketing platform that will enable them to analyze data, draw insights, and make relevant business decisions. Mr. Jit Goel, CEO of XCEL Solutions Corp will launch the company’s new platform InteratctiveUX very soon. “The launch of the platform (http://www. interactiveux.com), will mark the beginning of an exclusive and a predictive digital marketing solution globally” said Mr. Goel. The use of Artificial Intelligence in Digital Marketing is set to revolutionize the way marketing is conducted in cyber world. With the advent of AI in digital marketing, many enterprises are starting to understand the benefits it has over traditional methods of marketing and advertising. Applying AI and Predictive Analysis in Digital marketing has proven to be precise and efficient in driving increased number of leads with better ROI (Return-On-Investment) Today, millions of dollars are being spent by enterprises to understand what their consumers need and to learn how consumers perceive their business. InteractiveUX introduces cutting-edge technology related to Machine Learning and Natural Language Processing to create, optimize, and improve marketing campaigns. InteractiveUX brings State of the Art technology and industry standard best practices together to create highly productive digital marketing campaigns. Our platform enables our customers to utilize advanced tools and digital assets which offer a great user experience to make it successful. InteractiveUX intends to be the turn-key digital partner for all businesses. InteractiveUX offers a wide range of services for all business domains, not limited to Design Services, Web Development, Digital Marketing, Mobile Application Development, Business Intelligence Analytics, Security and much more. Each of these application modules could be subscribed to a la carte, depending on the requirements of the customers. “Drawing from our international pool of talent, we provide out-of-the-box digital solutions that are highly efficient and incredibly low cost,” said Mr. Goel talking about the new company. Following the footprints of XCEL Corp, InteractiveUX offers a special focus towards diversity and cost-effective pricing. XCEL Solutions Corp is one of the fastest growing companies in USA; gaining the recognition for three consecutive years. For 15+ years XCEL Corp, led by visionary CEO Jit Goel, has achieved 100% organic growth showcasing its stability and continuous effort to expanding its business. With exponential increase in demand for effective digital marketing services, XCEL Corp has launched InteractiveUX to provide digital services that are state-of-the-art and offer unmatched user experience.
News Article | May 24, 2017
XCEL Solutions Corp of Matawan, New Jersey showcased its products, services, and solutions related to the legal services industry at the NJSBA annual meeting and convention on 17th and 18th May. The event held at the Borgata Hotel Casino & Spa in Atlantic City, New Jersey, was attended by over 3000 legal personnel from all over the state. XCEL Corp’s features were presented by the company’s CEO Jit Goel and the team and were widely accepted by hundreds of attorneys, paralegals and other legal professionals attending the event. As the use of Technology in the legal services industry is still in its infancy, many of the solutions offered by XCEL Corp drew incredible interest among the attendees of the event. One of the major highlights of XCEL Corp at the event was the launch of the LegalSplit Platform. It was designed and created by XCEL Corp to facilitate payments, track bills, pay alimony, child support, and other financial transactions between divorced couples and their attorneys with ease and limited contact. The co-founder of LegalSplit, Michael Green was excited about the launch of the platform which is his brain-child based. LegalSplit has all the features to make the lives of divorced couples and their attorneys easy. Drawing from Mr. Green’s personal experience as a divorce attorney, LegalSplit’s functionalities help in negating several obstacles and unnecessary litigation. During the event, several legal personnel experienced a demonstration of LegalSplit platform and its features by Mr. Green and Mr. Goel. The users expressed LegalSplit is a comprehensive platform to address all the transaction needs of divorce attorneys and their clients. One of the attendees remarked, “LegalSplit is a perfect solution for divorced couples and their attorneys. It offers a completely integrated platform to make payments, track bills, pay alimony, and child support.” XCEL Corp also conducted a Raffle Contest in a novel method using technology. The registrations for the Raffle were made through a web and mobile application. The winners were selected at random through a technically advanced algorithm to derive completely unbiased results. The attendees appreciated the use of technology for a trivial contest like a raffle and were impressed with XCEL Corp for using state-of-the-art technology for simple yet engaging applications. The contest was conducted online completely and the results were shown based on the algorithm. The winners of the contest also received a SMS text message as an acknowledgement for winning the prizes. Two prizes were distributed at the end of the contest, an Apple Mac Book and an Apple iPad. The winners of the Raffle as announced were Robert Gardinor, Paralegal, Nationwide and Blake Laurence, Attorney, Davison Eastman & Munoz for the Mac Book and the iPad respectively. XCEL Solutions Corp is a Global Leader in IT with over 15 years of experience across various industrial verticals. XCEL Corp provides custom, cost effective solutions and services that also offer a great user experience through innovative technology. Lead by Jit Goel, XCEL Corp has worked with numerous SMBs and Large Enterprises including some of Fortune 500 and Inc.1000 companies. XCEL Corp has recently expanded its range of services in the fields of Technology and IT services to cater to the growing needs of its customers. Obed Joshua 254 Highway 34 Oakdale Plaza, Matawan, NJ 07747 NJ For reviews, feedback, inquires, complaints and more, please contact XCEL Corp at +1-732-765-9235
News Article | May 10, 2017
National Grid will streamline operations of more than 400 megawatts of grid-edge resources over 3 years with the first phase of 185 megawatts targeted to go live in 2017 REDWOOD CITY, CA--(Marketwired - May 10, 2017) - National Grid, a leading electricity and natural gas company serving over 7 million customers across New York, Massachusetts, and Rhode Island, announced that it has selected AutoGrid, a leader in flexibility management software, to unify management of its demand response (DR) and distributed energy resource (DER) programs across its service area in North America. The programs are expected to enroll over 400 megawatts (MW) of DR and other DERs over a 3-year timeframe. These programs will deliver significant cost savings to participating businesses while helping National Grid reduce operational expenses and investments in transmission and distribution infrastructure, which will lower costs for all National Grid customers. National Grid plans to implement five programs in the first year of operation across its entire service territory. These include the New York Emergency DR Program (EDRP), the New York Distribution Load Relief Program (DLRP), the New York Commercial System Relief Program (CSRP), the Massachusetts Connected Solutions Program, and the Rhode Island Connected Solutions Program. Eligible commercial and industrial customers can enroll in the program through vendors such as EnerNOC, CPower, NRG, IP Keys, and Direct Energy. National Grid will use AutoGrid Flex™ to unify management of these programs across all customers through a single dashboard, using it for event dispatch, measurement and verification, and reporting for all customers. In addition, the aggregators participating in the program will be able to manage their participation through AutoGrid Engage™, AutoGrid's multi-tenant customer engagement application. In subsequent years, National Grid may expand the use of AutoGrid Flex for other non-wires alternative initiatives. These include innovative new programs that optimize customer-sited energy storage systems, solar power systems, EV chargers, industrial control equipment, and other DERs, providing National Grid with yet another source of flexible capacity to balance supply and demand on the grid. "AutoGrid Flex will help us deliver innovative flexibility management programs to our business customers, enabling them to reduce their energy costs and meet their sustainability goals," said Carlos Nouel, Vice President of New Energy Solutions, National Grid. "We look forward to leveraging AutoGrid Flex's powerful optimization capabilities to improve the reliability of our operations and to support initiatives that not only deliver savings to our customers but reimagine how we engage with our customers." National Grid customers who are interested in participating in DR programs can learn more here: http://ngrid.com/demandresponse. "National Grid has been a leader in developing innovative new business models that address today's most urgent energy challenges, and we are excited to serve as their technology provider on this ambitious initiative to manage distributed energy resources at the grid edge," said Dr. Amit Narayan, CEO of AutoGrid. "By unifying management of these flexibility management programs, National Grid is demonstrating how utilities of the future will use flexibility management to deliver value to their customers and succeed in the new distributed energy world." Using Flexibility Management to Win in a Distributed Energy World AutoGrid Flex and AutoGrid Engage enable utilities, electricity retailers, and other energy service providers to manage a diverse set of distributed energy resources across all customer and program types, helping them launch new services that reduce costs, increase revenues, improve customer engagement, and enhance system reliability. AutoGrid Flex includes four flexibility management modules -- AutoGrid DROMS™, AutoGrid DERMS™ AutoGrid VPP™, and AutoGrid ESMS™ -- that all run on a unified platform that uses AutoGrid's Predictive Controls™ technology to provide energy service providers with a comprehensive flexibility management solution for all types of DERs such as battery storage, EV chargers, thermostats, load control switches, pool-pumps, water heaters, co-generation units, backup generators, and industrial demand response. AutoGrid Engage is a residential, commercial and industrial customer engagement application that incorporates AutoGrid's advanced analytics and big data processing capabilities to provide relevant and personalized pricing and DER offers to residential, commercial and industrial customers, deliver real-time optimization to increase customer savings and program participation. Using AutoGrid Flex and AutoGrid Engage, energy companies can differentiate themselves in an increasingly competitive new energy world by offering highly personalized flexibility management programs to all their customers. Energy consumers can get significant savings in an automated and convenient manner from their trusted energy provider. By utilizing the unified AutoGrid Flex application to implement their entire flexibility management roadmap, energy companies gain significant time-to-market and cost advantages over the alternative of trying to implement a hodge-podge of point solutions that require expensive and time consuming work to integrate with their complex backend systems and operational processes. AutoGrid Flex's powerful portfolio optimization capabilities allow energy companies to optimize their entire DER portfolio across all programs in real-time, and at scale, significantly boosting their portfolio's return on investment. About National Grid: National Grid ( : NG) ( : NGG) is an electricity and natural gas delivery company that connects nearly 7 million customers to vital energy sources through its networks in New York, Massachusetts and Rhode Island. It is the largest distributor of natural gas in the Northeast. National Grid also operates the systems that deliver gas and electricity across Great Britain. Through its U.S. Connect21 strategy, National Grid is transforming its electricity and natural gas networks to support the 21st century digital economy with smarter, cleaner, and more resilient energy solutions. Connect21 is vital to our communities' long-term economic and environmental health and aligns with regulatory initiatives in New York (REV: Reforming the Energy Vision) and Massachusetts (Grid Modernization). For more information please visit our website, or our Connecting website, follow us on Twitter, watch us on YouTube, friend us on Facebook, find our photos on Instagram. About AutoGrid: AutoGrid builds software applications that enable a smarter Energy Internet. The company's AutoGrid Flex™ suite of Energy Internet applications allows utilities, electricity retailers, renewable energy project developers and energy service providers to deliver cheap, clean and reliable energy by managing networked distributed energy resources (DERs) in real time and at scale. AutoGrid applications are all built on the AutoGrid Energy Internet Platform™ (EIP™), with patented Predictive Controls™ technology that leverages petabytes of smart meter, sensor and third-party data, along with powerful data science and high-performance computing algorithms, to monitor, predict, optimize and control the operations of millions of assets connected across global energy networks. AutoGrid Flex has more than 2,000 megawatts of DERs under contract with more than 25 global energy companies around the world. Several of the world's leading energy companies, such as E.ON, Bonneville Power Administration, Florida Power & Light, Southern California Edison, Eneco, Portland General Electric, CPS Energy, New Hampshire Electric Cooperative, NextEra Energy, Xcel Energy and CLEAResult, are using AutoGrid's software to improve their operations, integrate renewables and drive deeper engagement with their customers. AutoGrid has been recognized with several prestigious industry awards including the 2016 Energy Productivity Innovation Challenge (EPIC), Greentech Media's Grid Edge Award 2016, Bloomberg New Energy Pioneer 2016, World Economic Forum Technology Pioneer 2015, Red Herring Top 100 North America 2015, 2017 Cleantech Global 100, and Industrial Innovation Company of the Year 2014 by the Cleantech Group.
News Article | May 9, 2017
DULUTH, Minn.--(BUSINESS WIRE)--ALLETE Inc. (NYSE:ALE) has significantly expanded its North American footprint while continuing to focus on providing sustainable energy and water solutions, company investors heard today at the Duluth-based energy company’s 2017 Annual Meeting of Shareholders. About 700 people attended the 2017 Annual Meeting at the Duluth Entertainment Convention Center on Tuesday, where they re-elected 10 directors, approved compensation-related resolutions and ratified the selection of ALLETE’s accounting firm. After conducting business, they heard from Al Hodnik, ALLETE’s chairman, president and CEO, and three company presidents. “Through a well-thought-out, energy-centric strategy, ALLETE has expanded its reach across North America, including an initiative that will balance carbon-free wind and water power for a cleaner energy future in North America,” Hodnik said. “ALLETE now operates across the nation, with energy and industrial water treatment customers or facilities in 49 states.” Hodnik said ALLETE and its energy companies have grown significantly while transforming the nation’s energy and water landscapes. He reported ALLETE earned $3.14 per share in 2016 on net income that was up 10 percent over 2015, and ALLETE's market capitalization is now about $3.5 billion, up from $2.7 billion at this time in 2016. The company’s board of directors recently increased the dividend 3 percent to $2.14 per share on an annual basis, and Hodnik said the company’s three-year total shareholder return through the end of 2016 was 44.4 percent. “ALLETE’s enduring financial success is forged from its renewable roots, fueled by partnerships and an entrepreneurial spirit, and guided by core values and a balanced stakeholder view,” Hodnik said. “It is our view that rising societal expectations for even cleaner energy and water forms into the future will drive the long-term need for the sustainable solutions offered by ALLETE’s companies.” Hodnik pointed to Minnesota Power, ALLETE’s largest business, as it continues to pursue its EnergyForward strategy designed to modernize and diversify its energy mix at two-thirds renewables and renewable-enabling natural gas and one-third environmentally compliant baseload coal. Brad Oachs, senior vice president of ALLETE and president of regulated operations, outlined the Great Northern renewable energy initiative. When complete in 2020 as the Great Northern Transmission Line makes an international connection at the Canadian border, it will reduce Minnesota Power’s carbon emissions by 33 percent over 2005 levels and put the company’s power supply at nearly 40 percent renewable energy by delivering carbon-free hydropower from Manitoba. “Even though EnergyForward paces Minnesota Power ahead of state standards, we continue to seek renewable opportunities,” he said. “Natural gas enhances integration of renewables, and we also expect to add natural gas generation to our system and explore new wind and solar possibilities as we further reduce our carbon footprint.” Along with the shift toward renewables, the company says there is a shift among customers who want more control over how their energy is used and produced. Deb Amberg, ALLETE senior vice president, chief strategy officer of regulated operations and president of Superior Water, Light and Power, said ALLETE’s companies are leading this trend of providing “your energy, your way.” Through the installation of smart meters and new web portals where customers can check their energy use and conservation programs, the companies are helping customers gain more control over their bills, Amberg said. An increase in rebates available for small-scale home and business solar system installations also helps customers make the switch to their own generation. “Our goal is to exceed customer expectations, to find ways to delight them and leave them with a positive impression,” she said. ALLETE Clean Energy President Al Rudeck Jr. said his company operates in a growing market for wind power. In six years, he said, the company has grown to own and operate six wind facilities across the nation that generate more than 500 megawatts of power, and has become ALLETE’s second-largest net income source. ALLETE Clean Energy’s multipronged growth strategy is taking shape as wind turbine components arrive in the Port of Duluth-Superior this year. Qualified for federal production tax credit “safe harbor” provisions, the turbines give the company the pricing power to develop more wind power capacity over the next four years. A portion of these turbines could be placed at the 100-megawatt wind facility that ALLETE Clean Energy will build in North Dakota starting in 2018 to supply electricity to Xcel Energy under a 20-year power purchase agreement, subject to regulatory approval. ALLETE Clean Energy also recently announced it will expand by up to 50 megawatts the Thunder Spirit wind farm in North Dakota for Montana-Dakota Utilities, which has an option to purchase the expansion as it did with the first phase of Thunder Spirit. “The safe harbor turbines have improved our already strong project prospects and connected ALLETE Clean Energy with new industry partners nationwide,” Rudeck said. “I’m excited about ALLETE Clean Energy’s promising future, and proud to be expanding emission-free energy and transforming the nation’s energy landscape.” ALLETE shareholders, voting by proxy, elected to new terms current directors Kathryn W. Dindo, Sidney W. Emery Jr., George G. Goldfarb, James S. Haines Jr., Alan R. Hodnik, James J. Hoolihan, Heidi E. Jimmerson, Madeleine W. Ludlow, Douglas C. Neve and Leonard C. Rodman. The Don Shippar Community Service Award, given annually, was presented to lineworker Josh Athman for his volunteer efforts with first responders in the Pierz-Little Falls area. “Whether internationally, nationally or locally right here in the region, ALLETE is well-positioned to grow,” Hodnik said to shareholders in conclusion. “Guided by a strong and diverse board and fueled by 2,000 talented individuals working synergistically with each other, your investment in ALLETE continues to be rewarded and remains in good hands.” ALLETE Inc. is an energy company headquartered in Duluth, Minnesota. In addition to its electric utilities, Minnesota Power and Superior Water, Light and Power of Wisconsin; ALLETE owns ALLETE Clean Energy, based in Duluth; BNI Energy in Bismarck, North Dakota; U.S. Water Services in St. Michael, Minnesota; and has an 8 percent equity interest in the American Transmission Co. More information about ALLETE is available at www.allete.com. ALE-CORP The statements contained in this release and statements that ALLETE may make orally in connection with this release that are not historical facts, are forward-looking statements. These forward-looking statements involve risks and uncertainties and investors are directed to the risks discussed in documents filed by ALLETE with the Securities and Exchange Commission.
News Article | May 11, 2017
XCEL Solutions Corp of Matawan, New Jersey will introduce its newly expanded range of services at the New Jersey State Bar Association’s Annual Meeting and Convention to be held at Borgata Hotel Casino & Spa in Atlantic City, New Jersey between May 17th and 19th. The services, focused to provide enhanced and better user experience to our customers by utilizing cutting edge technologies, will be unveiled by XCEL's CEO, Jit Goel. With over 15 years of experience in the IT industry, XCEL Corp is looking to revamp and increase its range of Information Technology services to better suit their customers today. While constantly achieving 100% organic growth, XCEL Corp’s financial stability has allowed its leaders to implement its aggressive expansion strategies. The new range of services includes Enterprise Mobility, Business Intelligence, Data Warehousing, Mobile and Web Application Development, and Cloud Migration in addition to already existing range of services.” XCEL Corp is constantly updating its technology platforms with innovative technologies to deliver best quality solutions to our clients” said XCEL Corp’s spokesperson. The NJSBA event has been chosen for unveiling the services due to the lack of wider penetration of IT in the legal services industry. “For an industry which is incredibly professional labor intensive, there are only a few companies that provide customized technology related services for the legal services industry,” says Mr. Goel speaking about the decision to unveil new services. Our services will have special focus towards increasing the use of technology in the legal services industry. In an attempt to socialize and introduce our products and services to the legal professionals, XCEL Corp is excited to offer a Raffle Contest during the event where, the winners stand to win amazing and valuable prizes. “We look forward to attending this event and showcasing our products and services to more than 3000 attendees including top legal professionals", Mr. Goel said. XCEL Solutions Corp is backed by a diverse workforce that brings the best talents from around the world to provide out of the box technology solutions at a competitive pricing rate. The New Jersey State Bar Association is a regulatory professional body for attorneys in the State of New Jersey. The association conducts its annual meeting and convention to achieve a host of various objectives. This year’s event would be held at the Borgata Hotel Casino & Spa in Atlantic City, New Jersey between May 17th and 19th. The event is expected to draw over 3000 attorneys from all across the state. http://www.njsba.com XCEL Solutions Corp of Matawan, New Jersey is a Global Leader in IT. The company caters to over 20 different industrial sectors including, but not limited to BFSI, Media, Telecommunications, Technology, Retail, and Energy and Utilities. XCEL Corp follows Hybrid Service Delivery Model which allows incredible flexibility to manage client requirements of all sizes. Some of the solutions and services offered by XCEL Corp include IT Consulting, Professional Services, Managed IT services, Enterprise Software, Product Engineering, Big Data, and Mobility solutions. Obed Joshua 254 Highway 34 Matawan, NJ 07747 NJ For reviews, feedback, inquires, comments and more, please contact XCEL Corp at +1-732-765-9235 E-Mail: pr(at)xcelcorp(dot)com