Santa Teresa will deliver clean electricity sufficient to meet the annual needs of 60,000 homes served by EPE.
Under a 20-year power purchase agreement with EPE, the Santa Teresa project will supply clean electricity to power approximately 60,000 homes annually in the region. The facility aims to enhance grid reliability through its large-scale energy storage while supporting sustainable energy goals and economic growth in Doña Ana County.
Hy Martin, DESRI’s chief development officer, stated: “The Santa Teresa project is a cornerstone of DESRI’s growing partnership with El Paso Electric and a prominent example of how cost-effective solar and storage assets can power New Mexico’s future. The project not only contributes to regional grid stability via large-scale energy storage, but it also underscores our shared commitment to clean energy and economic development in Doña Ana County and across the state.”
The project’s financing was secured through contributions from DNB Bank ASA’s New York branch and National Bank of Canada, serving as joint coordinating lead arrangers, with additional support from Sumitomo Mitsui Trust Bank Limited New York branch and Korea Development Bank. Deutsche Bank Trust Company Americas will manage administrative tasks.
Dave Hawkins, El Paso Electric’s vice-president of system planning and operations support, said: “This project is about more than adding solar power – it’s about delivering lasting value to the communities and businesses we serve. By providing clean energy and added capacity to the entire region, we’re strengthening reliability, supporting sustainability and investing in future economic development growth.”
LG Energy Solution Vertech will supply U.S.-manufactured BESS units and its AEROS software suite for battery management under a long-term service agreement. SOLV Energy is responsible for engineering, procurement, construction, and future operations and maintenance of the facility.
The Santa Teresa project follows DESRI’s recent collaboration with Ranger Power, which achieved financial closure in May 2025 for two solar projects in Michigan with a combined capacity of 290MW. These include the 150MW Heartwood solar facility in Hillsdale County and the 140MW White Tail solar project in Washtenaw County. The Santa Teresa initiative reinforces DESRI and EPE’s commitment to advancing clean energy and supporting regional energy needs in New Mexico.
