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Essential Energy Insights, April 2021

El Paso Electric solicits renewable energy proposals for New Mexico

El Paso Electric Co. is seeking proposals for renewable energy for New Mexico.

Under the amended New Mexico Renewable Energy Act, all utilities that provide electric service in the state needs to supply 20% of their retail energy sales with renewable energy by 2020.

Only renewable energy, as defined by the recently signed Energy Transition Act, that are delivered to El Paso Electric and assigned to its New Mexico retail customers are eligible to participate in this solicitation.

El Paso Electric has preliminary determined that it requires approximately 141,000 MWh of additional renewable energy per year beginning in 2020. As such, the proposed project's capacity will be based on its specific characteristic and type.

Bidders may propose power purchase agreements, and or purchase or equity participation by El Paso Electric in new or existing generation facility and distributed generation. The company said it may also submit a self-bid.

Notices of intent to bid are due by June 28 and proposals are due by July 29. The company plans to notify shortlisted bidders by Aug. 29.

El Paso Electric may request a best and final proposal from shortlisted bidders, which could be due by Sept. 5. If the company chooses to initiate negotiation with any bidder, the notice of contract award date is Sept. 30.

The procurement is subject to approval by the El Paso Electric board and the New Mexico Public Regulation Commission.