A project combining 300MWac of solar with a 150MWac/600MWh battery energy storage facility in New Mexico has advanced after DE Shaw agreed to acquire it.
DE Shaw Renewable Investments (DSRI) confirmed it had acquired the Arroyo Solar and Storage project, planned for New Mexico’s McKinley County, from previous developer Centaurus Renewable Energy, also closing debt financing for the facility.
The facility is to help Utility Public Service Company of New Mexico (PNM) replace the 562MW San Juan Generating Station coal plant, which PNM is retiring. The utility has signed two separate off take agreements for the facility’s solar and energy storage output.
The project is slated for commercial operation in the fall of 2022, with the initial phase set to come onstream in June of that year.
For more on this project, visit Energy-Storage.news.
