This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Cramer's Action Alerts PLUS - See his portfolio and get alerts BEFORE every trade. Learn more NOW!

Macho Springs Solar Project Breaks Ground

El Paso Electric Power (NYSE: EE), The New Mexico State Land Office and First Solar, Inc. (NASDAQ: FSLR) announced today that construction has commenced on what will be the state’s largest solar power plant, located on State Trust Land near Deming in Luna County.

While in the construction phase, the Macho Springs Solar Project will provide approximately 300 jobs. Construction is expected to be completed by May of 2014, and the active power plant will include three operational and maintenance jobs.

“This is a milestone for not only El Paso Electric, but our customers and this region,” said Tom Shockley, El Paso Electric Chief Executive Officer. “We look forward to the continued growth of this technology in a cost effective manner.”

“This solar power project will provide clean, efficient solar power for use by New Mexicans,” said New Mexico State Land Commissioner Ray Powell. “Also, it benefits the local and regional economy include millions of dollars in direct and indirect economic benefits, and about 300 temporary construction jobs, while at the same time earning money for our public schools, universities, special schools, and hospitals.”

Under a 20-year power purchase agreement between El Paso Electric and First Solar, the 50MWac project will generate enough clean energy to power more than 18,000 average customer homes in the El Paso Electric service territory. The project will displace more than 40,000 metric tons of CO 2, the equivalent of taking 7,500 cars off the road, and will displace more than 340,000 metric tons of water consumption annually.

“First Solar values the support and leadership provided by El Paso Electric and the New Mexico State Land Office for this project,” said Michael Hatfield, First Solar Director of Project Development. “The Macho Springs Solar Plant will be an exciting addition to the region’s renewable energy resources.”

1 of 3

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Try it NOW
Only $9.95
Try it NOW
14-Days Free
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG

Markets

DOW 18,288.63 +155.93 0.86%
S&P 500 2,117.39 +12.89 0.61%
NASDAQ 5,008.0960 +44.5690 0.90%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs