Enlight Renewable Energy announced the successful completion [1] of its flagship Atrisco Solar & Energy Storage project located outside Albuquerque, New Mexico. The project, which includes a 364 MW solar generation unit and 1.2 GWh of energy storage capacity, reached full commercial operation in November 2024.
The Atrisco project is now the largest battery storage facility in New Mexico and one of the largest in North America. It has a 20-year power purchase agreement with the Public Service Company of New Mexico (PNM) to supply its entire output. In its first full year of operation, the project is expected to generate revenues of $51-55 million and EBITDA of $41-45 million.
The project’s final total cost net of tax equity was reduced to $397 million, reflecting a $10 million saving from initial estimates. This cost reduction was achieved through efficient construction management and financial structuring, including the conversion of construction financing into a term loan and the receipt of tax equity proceeds.
Adam Pishl, CEO of Enlight’s U.S. subsidiary Clenera, stated, “This project is a major milestone for Enlight and Clenera. We are grateful for our partnerships with PNM, our suppliers, and contractors. I look forward to more successful projects in the area.”
With the completion of the Atrisco project, Enlight Renewable Energy and Clenera are now beginning construction on three new solar and energy storage projects in the Western U.S. These projects, named Country Acres, Roadrunner, and Quail Ranch, will collectively add 810 MW of solar generation and over 2 GWh of energy storage capacity.
The clean energy produced by the Atrisco facility is equivalent to the average annual consumption of approximately 110,000 New Mexico households. This project marks a significant step towards increasing renewable energy capacity and reducing carbon emissions in the region.
Sources:
[1] Enlight Renewable Energy Completes Commissioning of Atrisco Solar & Energy Storage Project https://solarquarter.com/2025/01/07/enlight-renewable-energy-completes-commissioning-of-atrisco-solar-energy-storage-project/#google_vignette
