Las Cruces, NM – On Tuesday County Commissioners approved an ordinance for the issuance of industrial revenue bonds of up to eighty-one point six million dollars for a proposed solar power generating plant in Santa Teresa.
The project developer NRG Solar Roadrunner has plans to build a photovoltaic twenty megawatt power plant that will be just north of the port of entry and east of Domenici Highway.
County Planner Chuck McMahon says the bonds can serve as an economic incentive.
McMahon- "The industrial revenue bond is another incentive, economic incentive tool that the county has pursuant to statute to induce businesses to do business in Dona Ana County. The way this works simplistically is the county will own the facility, own the property and all of the assets on the site for the duration of the bonds there is no property tax and no gross receipts tax."
However, NRG will pay forty-seven thousand dollars annually to the county to make up for tax revenue.
The project broke ground back in November and it is currently under construction. Officials say it is expected to be completed and running by September of this year.