Local Transmission Project to Help Rural Communities Transition to Global Clean Energy Economy
RioSol brings clean energy economic opportunities to New Mexico and Arizona
FOR RELEASE: May 1, 2023
Media Contact: Tom Garrity, 505-898-8689, RioSol@garritypr.com
ALBUQUERQUE, N.M. – RioSol, a renewable energy transmission line being developed in New Mexico and Arizona, is accelerating the transition to a clean energy economy and helping communities and small utilities meet the critical deadlines related to renewable energy standards in both states. The RioSol High Voltage Alternating Current (HVAC) transmission line will have a capacity of 1,500 MW, enough to power approximately 500 thousand homes in rural New Mexico and Arizona; designed for interconnection to regional utilities, along its 550-mile route.
This HVAC design is key to delivering renewable energy to small utilities and local communities. RioSol is also integral to helping energy providers meet the renewable portfolio standards in both states. New Mexico’s Energy Transition Act (ETA) sets a statewide renewable energy standard of 50 percent by 2030 for New Mexico investor-owned utilities and rural electric cooperatives and a goal of 80 percent by 2040 and 100% (zero carbon fuel emissions) by 2045 for investor-owned utilities and 2050 for rural electric cooperatives.
Arizona’s Renewable Energy Standard and Tariff (REST) requires that regulated electric utilities must generate 15 percent of their energy from renewable resources by 2025. And Arizona Corporation Commission established a renewable portfolio standard to reduce carbon fuel emissions for utilities by 50% by 2032 and 100% (zero carbon fuel emissions) by 2070.
New Mexico and Arizona are two of eight states in the west that have renewable portfolio standards or voluntary renewable energy standards or targets. Other states include: Colorado, California, Nevada, Oregon, Utah and Washington.
Additionally, the design for interconnection supports legislation at a national level and will provide opportunities for families and businesses in rural communities to access renewable energy. Delivery of this energy will help communities save money through the National Inflation Reduction Act of 2022, which provides economic incentives through tax credits and deductions, for individuals and businesses. This act, paired with RioSol, will help to lower greenhouse gas emission footprints.
RioSol will also create 1,230 construction and long-term jobs and bring in an estimated 971.1 million in economic revenue and transport up to 1,500 Megawatts of renewable energy.
RioSol is a planned 500-kilovolt (kV) High Voltage Alternating Current (HVAC) renewable energy transmission line that will deliver clean energy Central New Mexico to South Central Arizona. For project details visit RioSol.Energy and follow us on Twitter and LinkedIn @RioSolEnergy.
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