aking advantage of its sun-kissed terrains, New Mexico is turning its sunny disposition into a new powerful asset—literally. The state recently celebrated the groundbreaking of the San Juan 1 project, an ambitious solar and storage venture that is poised to become a staple in the regional energy arena.
The San Juan 1 project is a multi-stakeholder endeavor led by D.E. Shaw Renewable Investments (DESRI) in collaboration with the Public Service Company of New Mexico (PNM) and SOLV Energy. With its impressive 200 MWac solar and 400 MWh storage capacity, the facility is a major step forward in renewable energy for both the Four Corners region and New Mexico at large. San Juan 1 is a pivotal part of the state's broader strategy to shift from coal-based energy to cleaner options.
Thomas de Swardt, Chief Commercial Officer of DESRI, expressed his enthusiasm, stating, " In the face of numerous headwinds facing the industry over the last two years, we deeply appreciate the hard work, creativity, and persistence of our partners to successfully bring this project into construction."
SOLV Energy, the company behind the construction, pointed out the employment benefits the project will offer to New Mexicans. "The transformation of the San Juan Solar and Storage Project marks a milestone that's about more than just generating power. The solar industry is a beacon of opportunity that powers over 260,000 careers nationwide and this project is paving the way for high-paying jobs right here in New Mexico," said George Hershman, CEO of SOLV Energy.
San Juan 1 has already secured 20-year power purchase agreements with PNM and is expected to be fully operational by the end of 2024.
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