D. E. Shaw Renewable Investments (DESRI), in partnership with Public Service Company of New Mexico (PNM) and SOLV Energy, recently celebrated the groundbreaking of the San Juan 1 project. The project is a 200-MWAC solar and 400-MWh storage facility located in Farmington, New Mexico. The event was attended by local stakeholders as well as leadership from the three companies, the United States Department of Energy, the Navajo Nation, San Juan County, the Cities of Kirtland and Farmington, and the state of New Mexico. The groundbreaking commemorated San Juan 1’s contribution to New Mexico’s energy transition and commitment to investing in the Four Corners region, while also expressing gratitude to the community’s history of energy production and powering the Southwest.
“We are thrilled to achieve this milestone on the San Juan 1 project,” said Thomas de Swardt, chief commercial officer of DESRI. “In the face of numerous headwinds facing the industry over the last two years, we deeply appreciate the hard work, creativity and persistence of our partners to successfully bring this project into construction.”
The San Juan 1 project has 20-year power purchase agreements with PNM and is currently being constructed by SOLV Energy. The facility is expected to begin commercial operations toward the end of the year 2024.
“The dedication of San Juan Solar 1 marks further progress in PNM’s clean energy transformation,” said Maureen Gannon, PNM VP and chief sustainability officer. “This day is a credit to New Mexico’s Energy Transition Act for promoting the placement of new clean energy resources in this region as we transition out of coal generation, in addition to providing financial support to the impacted workers and tribal communities.”
News item from D. E. Shaw Renewable Investments (DESRI)