The Santa Teresa solar and storage project in Doña Ana County, New Mexico, has entered the construction stage.
The project is being developed by DE Shaw Renewable Investments (DESRI), in collaboration with El Paso Electric (EPE).
This renewable energy initiative includes a 150MW solar facility coupled with a substantial 600 megawatt-hour (MWh) battery energy storage system (BESS).
The project is DESRI’s second venture within EPE's service area to break ground, following the Carne project which began its construction phase in 2024.
With an established 20-year power purchase agreement (PPA) with EPE, Santa Teresa will deliver clean electricity sufficient to meet the annual needs of 60,000 homes served by EPE.
DESRI chief development officer Hy Martin stated: "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.
"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."
Financing for this development was secured through contributions from several financial institutions, including DNB Bank ASA's New York branch and National Bank of Canada as joint coordinating lead arrangers.
Additional support came from Sumitomo Mitsui Trust Bank Limited New York branch, and Korea Development Bank. Deutsche Bank Trust Company Americas will oversee administrative aspects as part of its role.
El Paso Electric system planning and operations support vice-president Dave Hawkins stated: "This project is about more than adding solar power - it's about delivering lasting value to the communities and businesses we serve.
"By providing clean energy and added capacity to the entire region, we're strengthening reliability, supporting sustainability and investing in future economic development growth."
For technical components such as battery systems and software management tools, LG Energy Solution Vertech will be supplying US-manufactured BESS units along with their AEROS software suite under a long-term service arrangement.
SOLV Energy has been contracted not only for engineering, procurement and construction responsibilities but also for future operations and maintenance services once operational status is achieved.
In May, DESRI, in collaboration with Ranger Power, achieved financial closure and commenced the construction of two solar projects with a combined capacity of 290MW alternating current in Michigan.
These projects include the 150MW Heartwood solar facility in Hillsdale County and the 140MW White Tail solar project in Washtenaw County.
