WASHINGTON, D.C. -Today, U.S. Senator Martin Heinrich (D-N.M.), a member of the Senate Committee on Energy and Natural Resources, welcomed the approval of Xcel Energy’s 522-megawatt Sagamore Wind Project in Roosevelt County, highlighting the impact it will have to the local economy.
The New Mexico Public Regulation Commission unanimously approved the new 522-megawatt wind farm, which will be the largest in New Mexico’s history. The project will create up to 300 construction jobs and as many as 30 full-time operations jobs, produce an estimated $43 million in gross receipts tax revenue for the state of New Mexico, and save consumers money on their electric bills.
“The Sagamore Wind Project will be the largest wind farm in the state, resulting in hundreds of clean energy jobs in rural New Mexico and more affordable electric bills for consumers” said Senator Heinrich. “This new project and the jobs it will create in rural New Mexico is precisely why I worked so hard to pass the wind production tax credit. Xcel Energy’s $1.6 billion investment in this infrastructure project will lower the cost of energy production and boost our economy here in New Mexico.”
Senator Heinrich has been a leading advocate of tax credits to support the development of wind and solar energy. He spearheaded efforts in 2015 to secure a multi-year extension of wind and solar production and investment tax credits that encourage companies and investors to support major projects like the Sagamore Wind Project. Over the last few years, New Mexico has seen an increase in construction of more utility-scale wind farms made possible by pro-growth tax policies.