Enlight's 364-MW Solar Farm Begins Operations in New Mexico

• Enlight Renewable Energy's Atrisco solar farm is transforming New Mexico's energy landscape, unlocking $55 million in revenue and powering a sustainable future with 364 MW of clean energy.

Enlight Renewable Energy Ltd has initiated the initial commercial operation of its 364-MW Atrisco solar farm in New Mexico, marking the company's largest project to date. Located outside Albuquerque, the facility features solar arrays and a 1.2 GWh battery energy storage system, developed by its US subsidiary Clenera Holdings LLC. The project is set to achieve full commercial operations soon, with the battery system expected to be operational by the end of 2024.

The total investment for the Atrisco project amounted to $827 million, supported by a 20-year power purchase agreement with the Public Service Company of New Mexico. The solar farm is projected to generate $51 million to $55 million in revenue during its first year, with estimated EBITDA of $41 million to $45 million. Clenera's CEO, Adam Pishl, emphasized the project's significance in transforming a brownfield site into a clean energy source, benefiting New Mexico's residents in the long term.

What impact will the Atrisco solar farm have on New Mexico's energy landscape?

Impact of the Atrisco Solar Farm on New Mexico's Energy Landscape

- Increased Renewable Energy Capacity: The 364-MW capacity of the Atrisco solar farm significantly boosts New Mexico's renewable energy generation capabilities, contributing to the state's renewable energy goals and enhancing energy security.

- Job Creation: The construction and maintenance phases of the solar farm are likely to create numerous jobs in the local community, providing both direct employment opportunities and indirect benefits for local businesses that service the energy sector.

- Economic Growth: With an estimated first-year revenue of $51 million to $55 million, the project will contribute positively to New Mexico's economy. The projected EBITDA of $41 million to $45 million suggests ongoing economic benefits long after initial investments.

- Energy Storage Enhancements: The inclusion of a 1.2 GWh battery energy storage system enhances grid stability by allowing for energy dispatch during peak demand times and mitigating intermittency issues associated with solar energy generation.

- Environmental Benefits: Transforming a brownfield site into a solar farm minimizes environmental degradation and contributes to local habitat preservation, showcasing a sustainable approach to land use.

- Support for Local Utilities: The 20-year power purchase agreement with the Public Service Company of New Mexico (PNM) ensures a stable energy supply for the utility, potentially leading to lower energy costs for consumers and reducing reliance on fossil fuels.

- Promotion of Energy Independence: By increasing the share of locally generated renewable energy, the Atrisco solar farm assists New Mexico in moving towards greater energy independence, reducing vulnerability to external energy price fluctuations.

- Alignment with State Goals: The project aligns with New Mexico's ambitious renewable energy mandates, pushing the state towards its target of achieving 50% renewable energy by 2030 and establishing itself as a national leader in clean energy initiatives.

- Inspiring Future Projects: The success of the Atrisco solar farm may encourage further investment in renewable energy projects, stimulating further development in the region and positioning New Mexico as an attractive destination for green energy initiatives.

- Community Engagement and Investment: Enlight Renewable Energy Ltd's commitment to benefiting local residents highlights a growing trend where renewable energy projects actively engage with communities, ensuring that projects address local concerns and contribute to community welfare.

Overall, the Atrisco solar farm is set to play a pivotal role in reshaping New Mexico's energy landscape, enhancing sustainability while spurring economic and social benefits for the region.