With a robust solar energy and natural gas portfolio, El Paso Electric expects to wean itself from coal in 2 years, providing cleaner power to its 395,000 residential and commercial customers in Texas. By the end of the year, solar energy will represent 6 percent of EPE’s generation sources, compared to 0.23 percent nationally.
EPE signed a 20-year power purchase agreement (PPA) with the Macho Springs solar plant in New Mexico, on 500-acres of State Trust Land in Luna County. The 50 megawatt project supplies enough power for 18,000 homes and will displace more than 40,000 metric tons of CO2. Macho Springs was touted as a super cost-effective solar energy development, at a mere 5.79 cents per kilowatt-hour, and will be the largest in New Mexico. This is significant because the project is selling solar energy for about half of what is typical for such a project and for nearly the price of coal power — but with a 20-year purchase agreement.