FinancingApprovedApril 2, 2026

Xcel Energy Capacity*Connect — 50–200 MW distributed BESS program, Minnesota (Minnesota PUC approved)

Minnesota Public Utilities Commission approves Xcel Energy's Capacity*Connect program: a $430M distributed battery storage program deploying 50–200 MW of utility-owned batteries (1–3 MW each) across the distribution grid by 2028, in partnership with Sparkfund. First-in-the-nation utility-owned distributed capacity procurement of this scale, approved over objections from SEIA, MnSEIA, and CCSA who advocated for competitive third-party access. PUC deferred VPP decisions separately. Source: Utility Dive, April 8, 2026; pv magazine USA, April 8, 2026.

$430M

Deal Value

200MW

Capacity

BESS

Technology

MN

Location

Deal Details

Deal Type
Utility Procurement
Seller / Sponsor
Xcel Energy / Sparkfund
Deal Value
$430,000,000
Stage
Development
ISO/RTO
MISO

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