DESRI has began development on the Santa Teresa Photo voltaic and Storage venture in Doña Ana County, New Mexico, for El Paso Electrical (EPE). The 150-MW photo voltaic, 600-MWh storage venture is the second venture DESRI is engaged on for EPE. The developer started development on Carne, a 130-MW photo voltaic, 260-MWh storage venture, final yr.
LG Vitality Answer Vertech
“The Santa Teresa Undertaking is a cornerstone of DESRI’s rising partnership with El Paso Electrical and a outstanding instance of how cost-effective photo voltaic and storage property can energy New Mexico’s future,” mentioned Hy Martin, Chief Improvement Officer of DESRI. “The Undertaking not solely contributes to regional grid stability by way of large-scale vitality storage, nevertheless it additionally underscores our shared dedication to scrub vitality and financial improvement in Doña Ana County and throughout the state.”
Santa Teresa has a 20-year energy buy settlement with EPE. Financing for the development of the venture was offered by DNB Financial institution ASA, New York Department and Nationwide Financial institution of Canada as Joint Coordinating Lead Arrangers, Sumitomo Mitsui Belief Financial institution, Restricted, New York Department and Korea Improvement Financial institution. Deutsche Financial institution Belief Firm Americas acted because the Administrative Agent.
LG Vitality Answer Vertech will present U.S. made battery energy storage systems and the AEROS software program suite for the venture with steady help by a long-term service settlement. SOLV Vitality will function the EPC contractor and also will present ongoing operations and upkeep providers as soon as the venture is operational.
“Throughout this sizzling summer time, vitality demand continues to rise. We’re proud to be part of a venture that helps help the neighborhood by including clear vitality know-how to the electrical grid, and to take action utilizing U.S. made battery methods,” mentioned Jaehong Park, CEO of LG Vitality Answer Vertech. “This can be a pivotal second for vitality storage, and we’re working with DESRI and El Paso Electrical to construct on the momentum we’ve seen within the American vitality storage market.”
Information merchandise from DESRI
