D. E. Shaw Renewable Investments (DESRI) says the Carne Solar Project (Carne) has obtained New Mexico Public Regulatory Commission (NMPRC) regulatory approval of its offtake contracts with El Paso Electric (EPE). Carne is a 130 MWac solar + 65 MWac battery storage facility positioned in Luna County, N.M.
“The Carne project will deliver new, cost-effective clean energy to EPE’s customers, as well as energy storage that will provide crucial grid stability to the region,” stated Hy Martin, Chief Development Officer of DESRI. “We appreciate the ongoing support from the project’s stakeholders, including Luna County and the local community.”
Carne is DESRI’s fourth venture in New Mexico, and its second venture in Luna County. The venture will ship new energy and battery storage capability to EPE’s clients and contributes to EPE’s strategic mission to succeed in 100% decarbonization of its technology portfolio by 2045. DESRI can also be at the moment developing the Arroyo and San Juan Solar initiatives in McKinley and San Juan counties, respectively.
“The NMPRC’s approval is a significant milestone for the Carne project and underscores our commitment to advancing our renewable energy initiatives. The project allows us to deliver affordable, reliable and sustainable energy to our customers,” stated David Hawkins, Vice President of System Operations and Resource Strategy of EPE. “We are proud to be a part of this collaborative effort with DESRI and look forward to the positive impact it will have on the region we serve.”
The venture has a 20-year power buy settlement and energy storage settlement with EPE. The facility is predicted to generate sufficient clear energy to power roughly 38,000 houses every year, based on metrics supplied by the Environmental Protection Agency. The NMPRC’s approval is a vital step within the venture’s growth and its development in the direction of begin of building. The venture is anticipated to begin business operations in 2025.
Carne is predicted to ship vital group advantages, together with the creation of building jobs and different native financial growth. DESRI would be the venture’s long-term proprietor and operator.
Galehead Development and Lacuna Sustainable Investments have been concerned within the preliminary growth of the venture.
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Tags: D.E. Shaw Renewable Investments, utility-scale