Tri-State to partner with TurningPoint Energy for 200 MW solar farm near Prewitt, N.M.

  • Escalante Solar targeted to come on line in 2023; located near Prewitt, N.M., in Continental Divide Electric Cooperative’s service territory.
  • Project will power the equivalent of 61,750 typical cooperative member households.
  • New solar farm part of Tri-State’s transformative Responsible Energy Plan.

(January 15, 2020 – Westminster, Colo.) – As part of its efforts to embrace more renewable energy, Tri- State Generation and Transmission Association today announced that it has contracted with Turning Point Energy for the 200-megawatt Escalante Solar project near Prewitt, N.M.

Escalante Solar is scheduled to come on line in 2023 and is one of six projects announced today by Tri- State. With two additional projects announced in 2019 that have yet to be constructed, Tri-State will add 1,019 megawatts of wind and solar capacity to the association’s system by 2024, when 50% of the energy consumed in Tri-State’s system will come from emission-free renewable energy.

“Escalante Solar represents an early reinvestment in the communities near our generating station, in light of our recent announcement on its closure. We will continue our commitment to the local community, as we move forward with the transition of our resources,” said Duane Highley, CEO for Tri- State.

“TurningPoint Energy is excited to continue our development effort in partnership with the Tri-State team, the local community and local businesses,” said Jared Schoch, president of TurningPoint Energy. “Our development approach is collaborative, including work with key stakeholders to successfully actualize Escalante Solar.”

Escalante Solar will provide enough generation to meet the electricity needs of 61,750 households. It is within the service territory of Tri-State’s cooperative member, Continental Divide Electric Cooperative, located in Grants, N.M.

TurningPoint Energy will develop the Escalante Solar project. Terms of the contract will not be released. The construction and operation of this project will result in hundreds of construction jobs and contribute to tax base in the Prewitt area.

The Tri-State board of directors approved development of the association’s Responsible Energy Plan in July 2019. Tri-State has moved quickly since that time with its energy transition, which will lead to a cleaner energy portfolio and increased member flexibility, while ensuring continued reliability and a goal of stable wholesale rates.

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About Tri-State
Tri-State is a not-for-profit power supply cooperative of 46 members, including 43 electric distribution cooperatives and public power districts in four states that together deliver reliable, affordable and responsible power to more than a million rural electricity consumers across nearly 200,000 square miles of the West. For more information about Tri-State and our Responsible Energy Plan, visit www.tristate.coop.

About TurningPoint Energy
TurningPoint Energy is a clean energy development, advisory and investment company with solar development projects underway throughout the United States. Its principals have experience developing solar projects for utility and community solar clients totaling more than $2.5 billion in value over 1.1GW of operating solar projects throughout the United States within the last decade. TurningPoint Energy is a lean, privately-held firm that adapts to its clients’ needs and finds ways to invest in its clients and their communities … at every turning point. For more information about TurningPoint Energy, visit https://turningpoint-energy.com.

About Continental Divide Electric Cooperative
Headquartered in Grants, New Mexico, CDEC is a not-for-profit, member-owned electric distribution co-op providing service to more than 24,000 meters throughout Cibola and parts of McKinley, Sandoval, Bernalillo and Valencia counties. CDEC owns about 4,000 miles of primary and secondary distribution and transmission lines and has invested $101.5 million over the years to serve its members and consumers.

Contact:
Lee Boughey, 303-254-3555, lboughey@tristategt.org Mark Stutz, 303-254-3183, mstutz@tristategt.org

Certain information contained in this press statement are forward-looking statements including statements concerning Tri- State’s plans, future events, and other information that is not historical information. These forward-looking statements are subject to a number of risks, uncertainties and assumptions, including those described from time to time in Tri-State’s filings with the Securities and Exchange Commission. Tri-State’s expectations and beliefs are expressed in good faith, and Tri-State believes there is a reasonable basis for them. However, Tri-State cannot assure you that management’s expectations and beliefs will be achieved. There are a number of risks, uncertainties and other important factors that could cause actual results to differ materially from the forward-looking statements contained herein.