Enlight's 364-MW New Mexico solar farm starts initial operation

The 364-MW Atrisco solar farm, developed and built by an Enlight Renewable Energy Ltd (TLV:ENLT) subsidiary in the US state of New Mexico, has commenced initial commercial operation, the Israeli renewables company announced on Wednesday.

Enlight’s largest project to date, Atrisco is complex made up of solar arrays and a battery energy storage system (BESS) of 1.2 GWh situated outside Albuquerque. The project was delivered by Enlight’s US unit Clenera Holdings LLC.

The solar farm is expected to reach full commercial operations over coming weeks, while the BESS is expected to become commercially operational before the end of 2024, Enlight said.

The complex will supply electricity to the Public Service Company of New Mexico (PNM) under the terms of a 20-year power purchase agreement (PPA).

The Atrisco Solar & Energy Storage project was realised at a total cost of USD 827 million (EUR 750.6m), while the total project cost net of tax equity was USD 407 million. The project brought together contractors RES Americas, which provided engineering, procurement and construction services, and Miller Brothers, tasked with operations and maintenance. Runergy supplied its solar panels, Array Technologies Inc sent the trackers, string inverters are from Sungrow, and the BESS was delivered by Tesla.

Enlight expects Atrisco to generate revenues of USD 51 million to USD 55 million in its first full year of operation. Earnings before interest, taxes, depreciation and amortisation for this period are estimated to range between USD 41 million and USD 45 million.

“Achieving the first phase of commercial operations at Atrisco is a major milestone,” said Clenera President and CEO Adam Pishl. “We have taken a brownfield site with little use and transformed it into a clean energy power plant. The low-cost, emission-free energy produced here will benefit generations of New Mexico residents and is the first of our future investments in the state.”

(USD 1.0 = EUR 0.907)

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