Guzman Energy, a prominent provider of wholesale power and affordable energy, has recently entered into a power purchase agreement (PPA) with National Renewable Solutions (NRS), a reputable renewable developer. The agreement focuses on the development of the 140 MW Shallow Basket PV solar project, supplemented by 50 MW of battery storage. Situated in Rio Arriba County, N.M., this solar power generation and battery storage site is in its final stages of development and is projected to become operational in 2025.

Under the terms of the agreement, NRS will oversee the construction and operation of the solar project while leasing the land from the Jicarilla Apache Nation. Once completed, the Shallow Basket project will have the capacity to provide electricity to approximately 38,000 homes in the region, representing a significant contribution towards sustainability.

Guzman Energy will have full ownership of the power generated by Shallow Basket, along with all associated renewable attributes including renewable energy credits. Additionally, Guzman Energy will assume the responsibility of operating and managing the battery storage system, including the efficient scheduling of charging and discharging the stored energy.

The electricity generated by the Shallow Basket solar project and stored within the battery system will form an integral part of Guzman Energy’s power supply portfolio. This portfolio is dedicated to meeting the power load requirements of their existing and future wholesale customers.

NRS is renowned for its active development portfolio, which encompasses over 4 GW of renewable projects. The Shallow Basket solar project will mark the company’s fourth successful venture in New Mexico, solidifying their commitment to renewable energy in the state.

With Guzman Energy’s complete off-take agreement for the Shallow Basket Solar project, the initiative takes a crucial step towards providing clean and affordable power to a vast number of homes in the region. This joint effort between Guzman Energy and NRS exemplifies the commitment of both organizations to bolstering the renewable energy sector. The successful operation of the Shallow Basket solar project will not only alleviate the strain on traditional power sources but will also serve as a positive contribution towards a more sustainable future.

Disclaimer: The information provided in this research report is for informational purposes only and should not be interpreted as financial or investment advice. The energy market is highly volatile, and readers should conduct thorough research before making any investment decisions.