Renewable Energy
Long-term leases to renewable energy developers and providers represent an enormous opportunity for the State Land Office to diversify its leasing portfolio and generate significant income for beneficiaries from green energy. The State Land Office offers land and resources to renewable energy developers for the development of solar and wind projects throughout New Mexico. The agency is creating a complete list of trust lands suitable for various renewable energy projects. Currently, New Mexico ranks 12th in the nation in proven wind capacity and 2nd in solar radiation intensity. In addition, trust lands contain large supplies of woody biomass in forest land throughout the state.
In 2002, the State Land Office issued the first viable utility-scale wind power plant project lease to Florida Power & Light. As of 2011, the agency has five wind energy leases and three solar energy leases. The agency is addressing the renewable energy movement with a clear recognition of the potential economic benefits to the state from external investment into the New Mexico economic system, as well as affordable electric power from non-polluting sources for the state’s electricity consumers. Exploiting New Mexico’s vast wind power resource attracts out-of-state businesses and provides affordable electric power to New Mexico residents in an environmentally and socially responsible way. Wind power is the fastest- growing of the renewable energy technologies. According to industry analysts, if New Mexico were to reach full build-out of capacity potential relative to estimated resource availability, a total of 49,700 megawatts of wind-sourced electric power could be generated.
There currently are eight renewable energy leases and 13 options agreements on about 220,000 acres of trust land, generating more than $760,000 in income for trust beneficiaries.