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Wells Fargo Announces Financing for 11.3 MW New Mexico Solar Project

Stocks in this article: EE WFC WFR

“We are pleased to continue our work with Wells Fargo and El Paso Electric Company,” said Chris Bailey, vice president of Project Finance, North America for SunEdison. “Being able to complete multiple projects together with both of these partners demonstrates our strong business relationships and ability to deliver projects on time.”

The project is part of EPE’s ongoing strategy to expand the amount of renewable energy included as part of its energy portfolio used to meet its customers’ demand. Since 2011, EPE has contracted for more than 47 MW of solar generating capacity, including project construction and power purchase agreements.

“This project underscores El Paso Electric’s continued commitment to be a leader in the solar industry and to further advance the development of renewable energy resources in its service territory,” said Tom Shockley, CEO at El Paso Electric. “EPE continues to evaluate opportunities to increase its renewable energy portfolio and to positively impact the environment. Currently, EPE’s renewable energy projects and purchase agreements represent almost 3 percent of the Company’s net dedicated generating capacity, which is one of the largest percentages of renewable energy in the United States for a company of EPE’s size.”

About Wells Fargo

Wells Fargo & Company (NYSE: WFC) is a nationwide, diversified, community-based financial services company with $1.3 trillion in assets. Founded in 1852 and headquartered in San Francisco, Wells Fargo provides banking, insurance, investments, mortgage, and consumer and commercial finance through more than 9,000 stores, 12,000 ATMs, the Internet (wellsfargo.com), and has offices in more than 35 countries to support the bank’s customers who conduct business in the global economy. With approximately 265,000 full-time equivalent team members, Wells Fargo serves one in three households in the United States. Wells Fargo & Company was ranked No. 26 on Fortune’s 2012 rankings of America’s largest corporations. Wells Fargo’s vision is to satisfy all our customers’ financial needs and help them succeed financially.

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