Energy Management, Inc. (EMI) sells 4.98-megawatt Bent Bow Community Solar project in New Mexico to Standard Solar

ROCKVILLE, Maryland, July 9, 2024–(BUSINESS WIRE)–Standard Solar, a leading developer and owner of commercial and community solar assets, today announced the acquisition of a 4.98-megawatt (MW) solar project in Doña Ana County, New Mexico, from developer Energy Management, Inc. (EMI).

The Bent Bow project, which EMI began developing in 2021, was one of six in Doña Ana County selected as part of the Request for Proposals for Community Solar Projects initiative in New Mexico. More than 50 applications were submitted for projects in Doña Ana County.

Bent Bow contributes to the 30 MW allocated to El Paso Electric under the act. The Community Solar Act, which limits total community solar deployment in the first few years to 200 MW across three investor-owned utilities, is intended to make energy more accessible to low-income households and those in locations that lack the ability to install rooftop solar panels. The act mandates that at least 30 percent of the energy from community solar installations be dedicated to low-income subscribers, ensuring equitable benefits from New Mexico’s transition to renewable energy. This project supports the state’s environmental goals and increases community engagement and energy independence, providing tangible benefits to the local community.

Jim Gordon, president of EMI, said, “As pioneers in this market, we were able to secure an award in the area served by El Paso Electric and successfully develop and obtain permits for the project. Selling the project to Standard Solar made sense for us because they plan to build a portfolio of solar projects in New Mexico, and we had a good experience selling EMI’s solar project in Rhode Island to Standard Solar.”

“The acquisition of this solar project in Doña Ana County from EMI is an example of the efficiency of our transactions and the strength of our valued partnerships,” said Mike Streams, Chief Development Officer of Standard Solar. “This project, initiated by Energy Management, Inc. in response to New Mexico’s vision for community solar, is a key step forward in our partnership. Our collaboration advances our commitment to renewable energy projects in New Mexico and demonstrates the profound impact that aligned visions can have in driving sustainable development, especially for local communities.”

Once completed on schedule in late 2025, the ground-mounted photovoltaic installations are expected to generate as much as 11,309.98 megawatt-hours of energy annually, contributing significantly to the local renewable energy supply and reducing carbon dioxide emissions.

About Energy Management, Inc. (EMI)

EMI is a leading privately held energy development company with more than 45 years of experience in developing, financing, constructing and operating energy projects. EMI has developed independent power generation facilities representing more than $3 billion in project financing and more than 1,400 MW of capacity. EMI’s management and staff have extensive experience in all aspects of energy project development and multiple technologies, including natural gas, biomass, offshore wind, energy storage and solar. Private ownership and an independent corporate culture provide flexibility and creativity in project development and execution. www.emienergy.com

About Standard Solar

Standard Solar is driving the nation’s energy transition – directing its project development capabilities, financial strength and technical expertise to deliver the benefits of solar and solar + storage to businesses and institutions, farms, governments, communities and utilities. Building on 20 years of sustained growth and domestic and fiscal investment capital, Standard Solar is a national leader in developing, financing and long-term owning and operating commercial and community solar assets. Recognized as a well-established financial partner with immediate, deep resources, the company owns and operates more than 350 megawatts of solar across the United States. Headquartered in Rockville, Maryland, Standard Solar is a portfolio company of Brookfield, one of the world’s largest owners and operators of renewable energy and climate transition assets. Learn more at standardsolar.com, LinkedIn and on X (formerly known as Twitter): @StandardSolar.

For project acquisition and development inquiries, contact Harry Benson, Director of Project Development, at 301-944-5125, [email protected] or on LinkedIn.

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PR:
Leah Wilkinson
Wilkinson + Associates for Standard Solar
703-907-0010
[email protected]