The solicitation will enable the company to comply with recently enacted regulatory requirements to add renewable generation resources and bring significant economic development and environmental benefits to the US state of New Mexico.
SPS will require approximately 434,931MWh of energy produced by renewable resources, or 10% of its New Mexico retail sales, beginning in 2011. This requirement increases to 15% of New Mexico retail sales beginning January 1, 2015, followed by another increase beginning January 1, 2020 to 20% of New Mexico retail sales.
As part of this solicitation, the company is seeking renewable generation from solar and other renewable technologies such as biomass and geothermal. Contracts may also be subject to explicit regulatory approval by the New Mexico Public Regulatory Commission.
