GA-Solar said it will develop a 300MW solar photovoltaic power plant in eastern New Mexico, US, to supply enough power for 50,000 households.

GA-Solar’s parent company Corporacion Gestamp will invest $1bn in the plant, which will be spread across 2,500 acres in Guadalupe County.

GA-Solar and Corporacion Gestamp CEO Jon Riberas said the project will create 300 jobs during construction and 75 full-time jobs once the plant is fully operational.

“Renewable energy and energy efficiency have steadily gained popularity in the US and New Mexico in particular,” Riberas said.

Construction work on the project is expected to be complete in four years.

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