As industries across the board are putting in their efforts to fight climate change and promote decarbonization, the utility industry remains a forerunner in the energy transition process. As predicted by the International Energy Agency, the global renewable capacity is expected to increase to 2.5 times its current level by 2030. To reap the benefits of such growth prospects, utilities like SRE are increasingly investing in their renewable generation portfolio and reducing carbon emissions. Keeping up with this trend, other utilities like Xcel Energy Inc. ( XEL - Free Report ), NextEra Energy Inc. ( NEE - Free Report ) and Avangrid ( AGR - Free Report ) are also adopting measures to promote clean energy. As of Dec 31, 2023, Xcel Energy had wind capacity of more than 11,000 MW, including nearly 4,500 MW of owned wind.