in News Departments > Projects & Contracts
print the content item

Lucky Corridor LLC, developer of a planned transmission project in northern New Mexico, has signed an anchor tenant agreement with Gallegos Wind Farm LLC to use 300 MW of the transmission project's estimated 850 MW of east-to-west capacity.

The Federal Energy Regulatory Commission granted Lucky Corridor authority to engage in negotiations with anchor customers in October 2012. The transmission project includes 100 miles of planned double-circuit, 230 kV line, plus additional upgrades to systems west of the project.

The Gallegos project, which is owned by an affiliate of an agricultural conglomerate based in Texas, plans to develop energy resources on up to 40,000 acres in Union County, N.M. Current efforts are under way by Gallegos to win power purchase agreements at the Four Corners NYMEX hub.

“Transmission upgrades in the renewable energy and gas resource areas near Four Corners, such as we have proposed, are a step toward protecting this NYMEX hub and its large historic distribution network as the Western grid’s energy resource mix evolves,” says Lynn Greene, CEO of Lucky Corridor.

In addition, a new memorandum of understanding between Lucky Corridor LLC and the New Mexico Renewable Energy Transmission Authority (NM RETA) was approved as of July 16. Pursuant to that contract, NM RETA will assist in the design of Lucky Corridor’s construction phase project finance structure.




Advertisement

Trachte_id2056
Latest Top Stories

Slow Turning: What's Stopping Individual Blade Pitch Control From Wider Acceptance?

Advances have made it feasible for wind turbine blades to adjust individually. However, other factors are preventing the technology's widespread use.


Deepwater Hits Financial Close For Block Island Wind Farm, Expects Summer Construction

The Providence, R.I.-based offshore wind developer becomes the first to financially close on a U.S.-based offshore wind project.


More Investors Entering Tax Equity Market; Returns Holding Steady

The entry of new tax equity investors to the wind space last year re-ignited an old debate.


Report: Top 10 Turbine OEMs Had Record Year In 2014

Preliminary findings suggest Vestas reigned supreme again among the world's leading wind turbine makers. How did some of the other OEMs fare?


AWEA's Gramlich To FERC: Additional Transmission Needed Regardless Of Clean Power Plan

To further build a more balanced and reliable electricity portfolio, the U.S. needs to build more transmission capacity.

Hybrid Energy Innovations 2015