Independent power producer D.E. Shaw Renewable Investments (DESRI) has started construction at a 150MW solar-plus-storage project in the US state of New Mexico.
The Santa Tera Solar and Storage Project will combine a 150MW solar facility with a 600MWh battery energy storage system (BESS) and is now under construction in Doña Ana County. SOLV Energy will serve as the engineering, procurement and construction (EPC) contractor for the project, while LG Energy Solution Vertech will provide the batteries, which DESRI notes will be made in the US.
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In January, DESRI sought loan financing for the project, and our colleagues at Energy-Storage.news reported that the project would make use of 156 battery units utilising lithium iron phosphate (LFP) cell chemistry battery technology. Ultimately, financing for the project came from DNB Bank ASA, New York Branch and the National Bank of Canada.
DESRI has signed a 20-year power purchase agreement (PPA) with local utility El Paso Electric to sell power generated at the project, and is the company’s second project in the state, following the start of construction at the Carne project in August 2024.
“The Santa Teresa Project is a cornerstone of DESRI’s growing partnership with El Paso Electric and a prominent example of how cost-effective solar and storage assets can power New Mexico’s future,” said DESRI chief development officer Hy Martin.
The project is DESRI’s latest investment in the US south-west, following the start of construction at a solar-plus-storage site in Arizona last month. Similarly to its latest work in New Mexico, the developer signed a 20-year PPA to sell power, this time to the Arizona Public Service. Following the start of construction on these projects, DESRI now has 1.7GW of solar capacity under construction and 3.8GW of capacity in operation in the US.
