Thin-film manufacturer First Solar has announced the acquisition of the 50MW Macho Springs Solar project from developer Element Power in Luna County.
The project is expected to be completed in 2014, providing up to 400 construction jobs, and producing enough clean, renewable energy to power over 18,000 homes while displacing 40,000 tons of CO2 per year – the equivalent of taking 8,000 cars off the road.
Utility firm El Paso Electric (EPE) signed the power purchase agreement in November last year. Terms of the transaction were not disclosed.
The Macho Springs Solar project is located on land leased from the New Mexico State Land Office, and electricity from the facility will be purchased by El Paso Electric under a power purchase agreement that is subject to regulatory approvals, expected in the first half of 2013.
The Macho Springs project was the result of a Request for Proposal by El Paso Electric to include additional electric peaking resources in its current energy mix.
The companies claim this will be the state of New Mexico’s largest solar power project.