04 Dec Estancia Valley Economic Development Association hosts Iberdrola Renewables at the Annual Investor Breakfast
Estancia Valley Economic Development Association hosts Iberdrola Renewables at the Annual Investor Breakfast
Mark Stacy with Iberdrola Renewables announced to a group of Estancia Valley Investors and land owners on Tuesday that full construction of the El Cabo wind project in Torrance County has resumed, making this the largest wind farm in New Mexico.
PRESS ANNOUNCEMENT November 24, 2015
Iberdrola Renewables Resumes Full Construction at El Cabo Wind Farm
Project would be largest in New Mexico
Portland, Ore. – Iberdrola Renewables announced it has resumed full construction of the El Cabo Wind Farm in Torrance County, New Mexico. The 298 megawatt (MW) project will feature up to 149 wind turbines and is slated for commercial operation in the second half of 2017.
The company has secured an offtake arrangement for the full output of the plant, and has engaged in significant construction and procurement activities to date. The project’s construction schedule had slowed while some transmission-related constraints were successfully addressed. The on-site construction effort will now ramp back up, including civil and road work on the combined 56,000 acre project area comprised of private and state trust land managed by the New Mexico State Land Office.
“We have enjoyed a wonderful working relationship with local, regional and state officials to get this project to this point and we’re excited about having a viable commercial operating wind farm in sight,” said Frank Burkhartsmeyer, Iberdrola Renewables’ CEO. “With the resumption of full construction, we’ll now be building large wind farms in two states new to our portfolio, New Mexico and North Carolina.”
The El Cabo wind farm has already put a number of local businesses to work, and is expected to provide for at least $1.5 million in lease payments per year, for a total of at least $37.5M over the 25-year life of the project.
Iberdrola Renewables, LLC is the renewable energy division of our indirect parent company, Iberdrola USA. Iberdrola USA is a subsidiary of Iberdrola, S.A., an energy pioneer with the largest renewable asset base of any company in the world. Iberdrola Renewables, LLC is headquartered in Portland, Ore., and has more than $10 billion of operating assets totaling more than 6,000 MW of owned and controlled wind and solar generation in the U.S. www.iberdrolaren.com