New Mexico Public Lands Commissioner Stephanie Garcia Richard and Chevron officials dedicated a new solar array being built on state trust land in Eddy County. Chevron won the right to lease the 362-acre parcel at a public auction in January and awarded a sub-lease to Hayhurst Solar to build a 26 MW solar array and 55,000 panels to meet charging needs. electric from Chevron in the Permian Basin. The network will bring approximately $7 million in new revenue to New Mexico public schools.
“The State Land Office is open for business and we are diversifying our revenue streams. Chevron’s solar array here in Eddy County extends a promise I made to triple renewable energy on state lands said Garcia Richard. “My team and I have engaged in creative partnerships like this to find new sources of funding for school children in New Mexico. Projects like these are critical investments in future generations of new Mexicans.
Commissioner Garcia Richard established the first-ever Renewable Energy Office within the Commercial Division of the State Lands Office. From January 2019 to September 2022, annual revenue from renewable leases on state trust lands increased by 1,400% and the number of active leases increased by 208%.
“Through industry partnerships, such as ours with Algonquin, and working with Commissioner Garcia Richards and the New Mexico State Land Office, we are working to further reduce the carbon intensity of our operations by deploying renewable energy to support Chevron’s operations in the Permian,” said Allen Satterwhite, president of Chevron Pipeline and Power. “In addition to supporting oil and gas operations, the solar power project in Hayhurst can help support the State Land Office in its ongoing efforts to expand renewable energy capacity in New Mexico.”
News from the State of New Mexico