NEW
YORK, Aug. 19, 2024 /PRNewswire/ -- D. E. Shaw
Renewable Investments ("DESRI"), in partnership with El Paso
Electric ("EPE"), today announced the start of construction of the
Carne Solar and Storage project ("Carne" or the "Project"). Carne
is a 130 MWac solar and 260 MWh storage facility located in
Deming, New Mexico, and is DESRI's
second solar facility in Luna
County following the Alta Luna project, which began
operations in 2017. The Project will provide clean, reliable power
to the Southwest and will bring EPE closer to its 80% clean energy
goal by 2035 and 100% by 2045.
"DESRI is pleased to continue our investment in the energy
transition in New Mexico with our
fourth utility scale renewable energy facility in the state, and to
build on our long-standing relationship with EPE," said Hy Martin,
Chief Development Officer of DESRI. "Carne will provide reliable,
cost-effective clean power to EPE, as well as transmission grid
support with the planned large battery storage facility. In
addition, the Project will support the local community with
economic development opportunities for years to come. We are
grateful for the support of EPE, Luna
County, SOLV Energy, and other stakeholders in the
Project."
Carne has a 20-year power purchase agreement with EPE and is
expected to begin commercial operations in 2025. The Project is
anticipated to generate enough clean energy to power approximately
37,600 homes each year, according to metrics provided by the
Environmental Protection Agency. Galehead Development and Lacuna
Sustainable Investments were involved in the initial development of
the Project.
"EPE is excited to join DESRI in bringing this latest renewable
generation addition to New Mexico,
and to continue to build upon our great working relationship.
The Carne facility is dedicated 100% to serving our New Mexico customers and will be a critical
resource in enabling EPE to meet the needs of customer demand and
requirements of New Mexico's
Renewable Portfolio Standard goals," said James Schichtl, Vice President of Regulatory
Operations and Resource Strategy at EPE. "The battery storage
component of the new facility will be the largest serving EPE
customers and provide much needed capacity and reliability for our
New Mexico customers. EPE
looks forward to the successful completion of the Carne project and
to future renewable projects with DESRI in New Mexico."
SOLV Energy will serve as the engineering, procurement, and
construction contractor and will also provide ongoing operations
and maintenance services to the Project once operational.
"In addition to supporting EPE's clean energy goals, Carne will
create more than 300 construction jobs and provide the local
workforce with on-the-job skills training and career development
opportunities," said SOLV Energy CEO, George Hershman. "SOLV Energy and DESRI have
partnered on nearly four gigawatts of renewable capacity across the
U.S. We're pleased to continue working together to deliver the
benefits of clean energy to New
Mexico as the EPC and O&M provider on Carne."
About D. E. Shaw Renewable Investments
D. E. Shaw Renewable Investments (DESRI) and its affiliates
develop, acquire, own, and operate long-term contracted renewable
energy assets in the U.S. DESRI's portfolio of contracted,
operating, and in-construction renewable energy projects currently
includes 69 solar and wind projects representing more than eight
gigawatts of aggregate capacity. DESRI is a member of the D. E.
Shaw group, a global investment and technology development firm
with more than $60 billion in
investment and committed capital as of June
1, 2024, and offices in North
America, Europe, and
Asia.
This press release is provided for the reader's information
only and does not constitute investment advice or convey an offer
to sell, or the solicitation of an offer to buy, any securities or
other financial products.
Please also note that this press release has not been updated
since its dateline for any information contained in it that may
have changed, including any beliefs and/or opinions. In addition,
no assurances can be given that any aims, assumptions,
expectations, and/or goals described in this release will be
realized or that the activities or any performance described herein
did or will continue at all or in the same manner as at the time of
the press release.
Contact:
DESRI Media
desri-media-inquiries@world.deshaw.com
View original
content:https://www.prnewswire.com/news-releases/d-e-shaw-renewable-investments-and-epe-announce-carne-solar-and-storage-groundbreaking-in-new-mexico-302225386.html
SOURCE D.E. Shaw Renewable Investments