CLOVIS (KSMX)- Xcel Energy announced that as part of its plans to dedicate more than $20 million to new corporate giving, including COVID-19 relief, Xcel Energy and the Xcel Energy Foundation will donate the first $1.5 million in the eight states it serves before the sale of the Mankato Energy Center closes later this summer.
The company announced last week that the net proceeds from that sale, expected to be more than $20 million, will go to short- and long-term corporate giving, including COVID-19 relief.
“At Xcel Energy, we’re doing our part to support our customers and communities during this very challenging time,” said Ben Fowke, chairman and CEO of Xcel Energy. “I’m so proud of our employees, who are not only doing critical work to keep the lights on, they’ve also embraced our commitment to the community by joining our effort to support our neighbors in need.”
As part of the donation, the Xcel Energy Foundation is matching employee donations up to $1,000 at a rate of two dollars for every dollar donated, tripling the amount of the gift, up to $300,000. Within a week, employees donated $112,000 dollars. With the Foundation match of more than $223,000, that’s a donation of nearly $335,000.
One million dollars of the money donated by Xcel Energy and its foundation is designated for existing nonprofit partners along with organizations that address food insecurity and those that provide disaster relief, including local chapters of The United Way and regional food banks.