NEW MEXICO ECONOMIC DEVELOPMENT DEPARTMENT
New Mexico has plentiful natural resources and is the ninth-largest energy producer in the nation. About 50 percent of the electricity generated here is exported. All of the state’s new and planned electricity generating capacity will use renewable energy or natural gas.
With two U. S. Department of Energy national laboratories, the state also has tremendous energy and energy storage research capacity.
New Mexico has substantial renewable resources from solar, wind, hydroelectric, biomass and geothermal energy.
New Mexico is second only to Arizona in days of sunshine and has tremendous solar energy potential.
PNM owns 16 solar energy centers, including two that came online in 2018 specifically to serve the Facebook data center campus in Valencia County. El Paso Electric has power purchase agreements with five solar energy centers in the state. Xcel Energy purchases power from two solar farms in Chaves and Lea counties. Tri-State Generation & Transmission purchases power from the Cimarron Solar Facility in Colfax County.
There is significant wind energy potential on the high plains in eastern New Mexico. In 2018, wind energy contributed almost 19% of the state’s electricity generation with almost 1,800 megawatts of installed electricity generating capacity from more than 1,100 wind turbines.
In October 2018, the New Mexico Public Regulation Commission approved an application from Pattern Energy to build an estimated 950 wind turbines as part of its Corona Wind Projects, which will have 2,250 MW (megawatts) of capacity. Other New Mexico Wind Projects are shown in the table below.
The growing hydrogen economy is necessary to meet New Mexico’s ambitious climate goals while creating clean energy jobs for New Mexicans.
Several key sectors of our economy cannot decarbonize without low-carbon hydrogen. Long haul trucks, for example, cannot electrify without dedicating an enormous percentage of space and weight to batteries. Low-carbon hydrogen provides the trucking, manufacturing, mining, construction, electric generation and other industries the means to decarbonize their operations.
In February 2022, Gov. Michelle Lujan Grisham joined the governors of Colorado, Utah and Wyoming in signing a Memorandum of Understanding (MOU) to jointly compete for a portion of the $8 billion allocated in the federal Infrastructure Investment and Jobs Act for the development of regional clean hydrogen hubs. These states are uniquely situated to become a clean hydrogen hub given the presence of high-quality wind, solar, biomass, natural gas, and other energy resources.
Update on Western InterState Hydrogen Hub WISHH
Governor Lujan Grisham signed a bill during the 2022 Legislative Session, stating that the Department of Environment shall work with the Economic Development Department, Department of Workforce Solutions, and industry to establish uranium mine and mill reclamation as a target economic development industry in New Mexico, including the creation, coordination and promotion of worker training and business development programs for reclamation activities.
Abandoned uranium mines are found in all corners of the Southwest. This environmental hazard will require large amounts of mitigation and also offer new job opportunities in rural areas of New Mexico.
In January 2014, Cyrq Energy opened New Mexico’s first utility-scale geothermal plant in Hidalgo County. The facility represents an investment of more than $100 million. PNM has signed an agreement to purchase the power for the next 20 years.
The Bravo Dome carbon dioxide gas field, located in Harding and Union Counties in northeast New Mexico, covers about 800,000 acres. It is estimated to contain more than 16 trillion cubic feet of carbon dioxide. The CO₂ is used primarily for enhanced oil recovery.
New Mexico has four sites that generate hydro power:
Source: New Mexico Energy, Minerals & Natural Resources Department
New Mexico EconomicDevelopment DepartmentJoseph M. Montoya Building1100 S. St. Francis DriveSanta Fe, NM 87505-4147
Mailing Address:New Mexico EconomicDevelopment DepartmentP.O. Box 20003Santa Fe, NM 87504-5003
Main number: (505) 827-0300 (se habla español)Fax: (505) 827-0328
The mission of the New Mexico Economic Development Department is to Improve the lives of New Mexico families by increasing economic opportunities and providing a place for businesses to thrive.
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