El Paso Electric Co. seeks more renewable energy for New Mexico customers
El Paso Electric Company (EPE) has just released a compelling Request for Proposals (RFP) with the aim of amplifying renewable energy resources for its New Mexico clientele by the decisive year of 2027. This move aligns with the New Mexico Renewable Portfolio Standard (RPS) stipulations, which underscore the urgent need for sustainable and cost-efficient electric resources.
New Mexico’s Renewable Ambitions
Central to this initiative is the New Mexico Renewable Energy Act (REA), which mandates El Paso Electric Company to fuel 40% of its retail energy sales in New Mexico with renewable sources by 2025. This ambitious target sees an upswing to a whopping 50% by 2030. It’s essential to highlight that only the renewable energy channeled to EPE and designated for New Mexico users qualifies under the REA’s RPS prerequisites.
El Paso Electric Company’s Call for Diverse Renewable Resources
Casting a wide net, the RFP is open to a myriad of renewable energy forms, placing a special emphasis on those coupled with their corresponding Renewable Energy Certificates and attributes as pinpointed by the REA. Digging deeper into the RPS provisions, El Paso Electric Company has identified an urgent requirement for resources, either short-term or long-term, that will chalk up roughly 150,000 megawatt hours annually of added renewable energy. While the target set is for May 1, 2025, the deadline stretches to May 1, 2027.
El Paso Electric Company’s Renewable Vision and Timeline for Bidders
CEO Kelly A. Tomblin elucidates the context, underscoring El Paso Electric Company’s year-on-year growth of two percent in their customer base. This growth trajectory inevitably leads to a surge in energy consumption and demand. Emphasizing El Paso Electric Company’s commitment, Tomblin mentions, “Leading environmental sustainability remains a strategic anchor, making it imperative for us to innovate our approach and ensure alignment with the New Mexico Renewable Energy Act.” With an intent to integrate higher volumes of renewable energy, El Paso Electric Company is setting the stage for a sustainable future. Potential bidders should mark their calendars as the window to express their intent to bid closes on Friday, November 3, 2023.