D E Shaw Renewable Investments (DESRI), Public Service Company of New Mexico (PNM), and SOLV Energy inaugurated the commencement of the San Juan 1 project. Located in Farmington, New Mexico, San Juan 1 is a colossal renewable energy facility featuring 200MWac of solar power and 400MWh of energy storage.
The groundbreaking event garnered attention from a diverse group of attendees. This included not only top executives from DESRI, PNM, and SOLV Energy, but also representatives from the U.S. Department of Energy, the Navajo Nation, San Juan County, and the municipalities of Kirtland and Farmington. Additionally, officials from the state of New Mexico were present.
Thomas de Swardt, the Chief Commercial Officer of DESRI, expressed enthusiasm over reaching this critical juncture in the San Juan 1 initiative. He praised the diligence, innovation, and resilience of all collaborating entities in bringing this ambitious venture to the construction phase, especially given the challenges the renewable energy sector has encountered over the past couple of years.
With 20-year Power Purchase Agreements (PPAs) already in place with PNM, the project is now officially under construction, managed by SOLV Energy. The facility is slated for completion and is expected to become fully operational by the close of 2024.
The San Juan 1 project promises to be a significant step forward in renewable energy, contributing not only to energy sustainability but also potentially setting the stage for similar initiatives in the region and beyond.