Korsail is leasing land and building renewable energy projects across New Mexico due to the variety of attractive programs allowing us to sell low-cost renewable energy to local communities and utilities. A few are highlighted below.
Direct Power Purchase Agreements
A common structure for solar projects is a Direct Power Purchase Agreement. Direct Power Purchase Agreements are an agreement between a customer and a generator, in which the customer buys power from an on-site solar system. While Direct Power Purchase Agreements aren’t unique to New Mexico, there is a significant volume of projects with Direct Power Purchase Agreements in the state.
Utility Power Purchase Agreements
A common structure for solar projects is a utility Power Purchase Agreement (“PPA”). A Utility PPA is a contract between a utility and an energy generator, where a utility buys power from a solar project and provides renewable energy to its customers. New Mexico Utility companies, including PNM have been very active, signing power purchase agreements on a large number of projects to meet renewable energy goals described in their 2023 integrated resource plan.
Community Solar Opportunities
New Mexico’s Community Solar Program offers a number of incentives for participating members and communities. These projects do not require large tracts of land, particularly in New Mexico, with a typical project being 20-40 acres.
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Our Projects in New Mexico
Our in-house permitting team values feedback from referral agencies and community members. Reach out to us for more information via the form below. Our team of experts will contact you to discuss our New Mexico projects.
Types of Projects We Develop
Korsail develops a wide range of projects uniquely suited to each utility and piece of land. Our team has the knowledge and expertise to bring these projects to life. A few examples are below.
Solar
Korsail brings reliable, low-cost solar energy to rural communities across New Mexico. Solar is a continuously developing, but commercially tested technology that can help reduce the utility’s monopoly on power generation and their reliance on Brown Fuel generators such as coal.
Storage
Korsail develops large-scale battery storge projects that enable us to offer readily available, consistent energy when and where it is most needed. As power demands and generation fluctuate throughout the day in New Mexico, storage projects can fill the gaps in generation and keep the lights on. Korsail is at the forefront of the country’s transition to large-scale battery storage.
Hybrid
Korsail also develops Hybrid Solar + Storage projects. We always focus on developing projects which best serve our customers and the local community. Hybrid projects allow for more consistent delivery of energy and are better for the health and stability of the local grid.