El Paso Electric opens renewables RfP to meet New Mexico obligations – Renewables Now

August 11 (Renewables Now) – Regional electric utility El Paso Electric (NYSE:EE), or EPE, on Tuesday issued an all-source Request for Proposal (RFP) in a drive to obtain resources to meet renewable energy requirements in the state of New Mexico.
The competitive round is open to both short-term and long-term generating resources and renewable energy. The utility explained that the RfP will help it meet New Mexico’s increasing Renewable Portfolio Standard (RPS) and capacity estimated to be required to meet growing demand.
According to the RPS, EPE needs to cover 40% of its New Mexico power sales with renewable energy from 2025 onward, while by December 2024, it will seek to obtain long-term resources that will produce around 175,000 MWh of renewable energy annually.
Intents to bid will be accepted by August 31, with final proposal to be due by November 10. Contracts are scheduled to be signed in April 2022.
The utility has conducted initial resource planning studies that indicate the need for some 40 MW of new capacity in 2022 to meet long-term energy demand, up to 90 MW in 2024 and 90 MW-110 MW in 2025. The new capacity is also required to offset the closure of older power generation stations owned by EPE.
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Veselina Petrova is one of Renewables Now's most experienced green energy writers. For several years she has been keeping track of game-changing events both large and small projects and across the globe.
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