DESRI has started construction on the Santa Teresa Solar and Storage project in Doña Ana County, New Mexico, for El Paso Electric (EPE). The 150-MW solar, 600-MWh storage project is the second project DESRI is working on for EPE. The developer began construction on Carne, a 130-MW solar, 260-MWh storage project, last year.
LG Energy Solution Vertech
“The Santa Teresa Project is a cornerstone of DESRI’s growing partnership with El Paso Electric and a prominent example of how cost-effective solar and storage assets can power New Mexico’s future,” said Hy Martin, Chief Development Officer of DESRI. “The Project not only contributes to regional grid stability via large-scale energy storage, but it also underscores our shared commitment to clean energy and economic development in Doña Ana County and across the state.”
Santa Teresa has a 20-year power purchase agreement with EPE. Financing for the construction of the project was provided by DNB Bank ASA, New York Branch and National Bank of Canada as Joint Coordinating Lead Arrangers, Sumitomo Mitsui Trust Bank, Limited, New York Branch and Korea Development Bank. Deutsche Bank Trust Company Americas acted as the Administrative Agent.
LG Energy Solution Vertech will provide U.S. made battery energy storage systems and the AEROS software suite for the project with continuous support through a long-term service agreement. SOLV Energy will serve as the EPC contractor and will also provide ongoing operations and maintenance services once the project is operational.
“During this hot summer, energy demand continues to rise. We’re proud to be a part of a project that helps support the community by adding clean energy technology to the electric grid, and to do so using U.S. made battery systems,” said Jaehong Park, CEO of LG Energy Solution Vertech. “This is a pivotal moment for energy storage, and we’re working with DESRI and El Paso Electric to build on the momentum we’ve seen in the American energy storage market.”
News item from DESRI
