Construction begins on SunZia wind facility it is constructed between Torrance, Lincoln, and San Miguel Counties in New Mexico as well as SunZia transmission line for the purpose of sending energy across state’s bootheel area on urban markets situated in Arizona and potentially California.
Construction Cost
On Dec. 27, Pattern Energy announced that it completed the $11 billion necessary for financing to build a facility estimated by ownership Obama administration as capable of producing renewable energy reserves sufficient enough economically contributing local communities and about 3 million Americans at least.
900 turbines that make up the wind farm will occupy Lincoln, Torrance and San Miguel counties with the 550 mile transmission line crossing southwest New Mexico to a termination point in Pinal County of Southern Arizona.
That power could then be sold to large markets in cities such as Phoenix or Tucson, or even sent further west into California.
Total capacity
Together, along the route it will be able to carry about 3,000 megawatts (MW) of wind power from this wind farm generating up to 3,514 Mw.
It took $8.8 billion in construction costs, which were funded by a group of investment banks from all over U.S., as well as another about 2.5 million dollars on tax equity loans Pattern Chief Executive Officer Hunter Armistead said the project was “the largest clean energy” initiative in American history and would help to transition America and the world towards carbon-free power.”
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“Our hope is that this successful raising of institutional funding for the largest clean energy infrastructure project in American history provides a precedent for similarly big ambitious renewable infrastructure initiatives which are needed to hasten our transition towards carbon free future,” Armistead said.
Completion date
Pattern predicted the SunZia wind facility and SunZia transmission line would be in service by 2026.“ Work is already underway on this historic project that will provide cheap power, with a load profile to support the vast amount of solar generation resources available across the major part of western United States.
“The full financing SunZia received indicates that large-scale renewable energy projects are becoming appealing to investors” said Pattern Executive Vice President Daniel Elkort.
“This financing demonstrates a continuing support from our finance partners to the renewables sector as well as Pattern,” he said. ”
The sheer size and scope of both this project at SunZia , but more broadly, in what has been deployed today is an indication that the space can secure compelling capital resources on scales such terms not previously used for traditional generation.”
Bill Rogers, global head of sustainable energies at Canada Pension Plan Investment Board (CPP Investments), which purchased Pattern in 2020 said the investment firm is keen on assisting Pattern to develop and operate the SunZia system.
“SunZia wind facility and SunZia transmission line is a major step forward in the worldwide shift to renewable energy, and we are pleased to support Pattern as it seeks to bring this project closer towards realization,” Rogers said.
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BLM New Mexico State Director Melanie Barnes stated that such a project was consistent with the federal government’s aim to increase renewable energy across U.S.
She said in a press release “This effort is an important contribution to the development of renewable energy and transmission infrastructure in our country.
4,411 megawatts were installed as of 2023 based on the most recent data from Energy Information Administration in wind capacity ranking New Mexico ninth in the nation.
About 42 percent of electricity in the state was provided by renewable energy, read the report; wind made up 85% of that power.
The report states, “New Mexico is one of the leading States in potential for wind energy.
Much of it exists on high plains throughout eastern portionsof this state.”
According to information from the New Mexico State Land Office, renewable energy seemed poised for even greater advancement in its power generation for New Mexcio, as well as how much it contributed state funds.
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