New Mexico Commissioner of Public Lands Stephanie Garcia Richard and representatives from Chevron dedicated a new solar array being constructed on state trust land in Eddy County. Chevron won the right to lease the 362-acre parcel at a public auction in January and issued a sublease to Hayhurst Solar to construct a 26-MW, 55,00-panel solar array to serve Chevron’s electrical load needs in the Permian Basin. The array will bring in an estimated $7 million in new revenue for New Mexico’s public schools.
“The State Land Office is open for business and we are diversifying our revenue streams. Chevron’s solar array here in Eddy County expands upon a promise I kept to triple renewable energy on state trust lands,” Garcia Richard said. “My team and I are committed to creative partnerships like this as a way of finding new sources of money for New Mexico’s school kids. Projects like these are critical investments in future generations of New Mexicans.”
Commissioner Garcia Richard created the first-ever Office of Renewable Energy within the Commercial Division at the State Land Office. From January 2019 through September 2022, annual revenue from renewable leases on state trust land increased by 1,400% and the number of active leases increased by 208%.
“Through industry partnerships, such as ours with Algonquin, and collaboration with Commissioner Garcia Richards and the New Mexico State Land Office, we are working to further reduce the carbon intensity of our operations by deploying renewable power to support Chevron’s operations in the Permian,” said Allen Satterwhite, president of Chevron Pipeline and Power. “In addition to supporting oil and gas operations, the solar power project in Hayhurst can help support the State Land Office in their continued efforts to expand renewable energy capacity in New Mexico.”
News item from the State of New Mexico