D.E. Shaw Renewable Investments (DESRI), in partnership with Public Service Company of New Mexico (PNM) and SOLV Energy, has broken ground on the San Juan 1 project, a 200 MW AC solar and 400 MWh storage facility located in Farmington, N.M.
“We are thrilled to achieve this milestone on the San Juan 1 project,” says 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 being constructed by SOLV Energy. The facility is expected to begin commercial operations toward the end of next year.
“The dedication of San Juan Solar 1 marks further progress in PNM’s clean energy transformation,” says PNM’s Maureen Gannon. “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.”
