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MarketScreener Homepage  >  Equities  >  Nasdaq  >  Xcel Energy    XEL

XCEL ENERGY (XEL)
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Xcel Energy : Google to build $600m data center in Minnesota

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01/11/2019 | 02:03pm EST

Mubasher: Google Inc. is planning to build a mammoth data centre in Becker, in the US state of Minnesota, with an estimated cost of $600 million, which will be powered by Xcel Energy's wind farms.

Google will buy 300 acre-land from Xcel for the centre and the Minnesota-based utility company will supply the new facility with renewable energy to cover its power need, according to Minnesota Public Radio.

“This project becomes part of the company’s journey to mindfully transition a coal-plant environment into a less carbon-intensive, business-oriented area that creates new jobs, results in significant private capital investment in the state and benefits all of the company’s customers,” Xcel Energy said.

Under the terms of the deal between Google and Xcel, the latter will provide 300 megawatts of wind energy to the planned data centre, and would cover power needs by “conventional” power sources in “less-windy days”.

Source: Mubasher

(c) All Rights Reserved - Mubasher Info 2005 - 2019 Provided by SyndiGate Media Inc. (Syndigate.info)., source Middle East & North African Newspapers

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Financials ($)
Sales 2018 11 539 M
EBIT 2018 2 127 M
Net income 2018 1 263 M
Debt 2018 17 293 M
Yield 2018 3,00%
P/E ratio 2018 20,55
P/E ratio 2019 19,45
EV / Sales 2018 3,76x
EV / Sales 2019 3,78x
Capitalization 26 052 M
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Mean consensus HOLD
Number of Analysts 15
Average target price 51,2 $
Spread / Average Target 0,92%
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Benjamin G. S. Fowke Chairman, President & Chief Executive Officer
Kent T. Larson President-Group Operations & Executive VP
Robert C. Frenzel Chief Financial Officer & Executive Vice President
A. Patricia Sampson Independent Director
Richard K. Davis Independent Director
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