Why was RETA created?
The New Mexico legislature created RETA in 2007 making it one of the first independent state authorities in the nation to facilitate the licensing, construction and financing of high voltage transmission lines and energy storage projects, allowing delivery of renewable energy from remote areas that have enormous renewable energy potential to in-state and out-of-state customers.
When it was created, the New Mexico legislature gave RETA powers of eminent domain to acquire property or rights-of-way for public use if needed for RETA’s renewable energy projects.
RETA will always consider the use of eminent domain as a last resort, but these powers are essential to its mission and without it, there would not be the certainty necessary to construct these projects. As such RETA has taken steps to ensure that the rights of individual property owners are appropriately balanced with the needs of the public-at-large as it works to develop New Mexico’s renewable energy resources.
How do I share my views with RETA?
If you have questions or concerns, please call 505-699-0599. Representatives are available Monday through Friday, 8:00 a.m. – 5:00 p.m. MSTor send an email to email@example.com.
What are the benefits to landowners?
Each project is different, but RETA’s goal is always the same – to provide balanced oversight of right-of-way acquisition between landowners and transmission companies allowing landowners to achieve at least fair market compensation for their property while helping the developer get their project built.
In addition to monetary compensation, these projects enable the landowner to become part of a team, working to make a large, positive impact on your community and state as a whole.
What is RETA?
The New Mexico Renewable Energy Transmission Authority, or RETA, is an organization that was established by the New Mexico State Legislature in 2007 to help diversify New Mexico’s economy through the development of renewable energy resources.
How can they help me develop my renewable energy project?
RETA’s role in New Mexico includes planning, financing, developing and acquiring high voltage transmission lines and energy storage projects within New Mexico. RETA provides development support to transmission developers to enable these projects to timely meet all regulatory compliance requirements from local, state and federal governments while balancing fair and equitable treatment of land owners who provide easements for transmission facilities.
How does RETA work with businesses?
RETA is a resource for companies looking to develop renewable and transmission projects in New Mexico. There are numerous ways in which RETA can work with businesses including acquiring, maintaining, operating and financing transmission and storage projects.
How do they get their funding?
RETA is a state-funded entity but can also derive funding from developers based on services that RETA provides to developers. This makes RETA one of the few examples of a public-private partnering organization that has worked for several years.
How can RETA help me work with landowners?
RETA provides balanced oversight of right-of-way acquisition between landowners and transmission companies. This enables developers to ensure that they are providing at least fair market compensation to landowners as they begin building their relationship with these individuals.
What types of resources can RETA offer me?
RETA provides independent and objective evaluation and support of promising renewable energy transmission projects and competitive bond financing for renewable transmission and energy storage projects. Additionally, RETA can offer varying levels of support for projects, depending on the developer’s needs, including providing a Letter of Support, entering into a Memorandum of Understanding (MOU), or entering into a project financing arrangement with the developer.
Does RETA help provide renewable energy outside New Mexico?
Yes. RETA’s focus is to facilitate the development of transmission and energy storage projects to allow renewable energy to be transported from remote areas in New Mexico to in-state and out-of-state customers. This promotes economic development in New Mexico.
Who do I contact to answer questions about related topics?
Please contact Gloria Castillo with NM RETA via email firstname.lastname@example.org.
Are there existing transmission lines or proposed lines that can serve my utility?
Please visit our transmission facilities page for more information on current and proposed RETA transmission projects.
How much renewable energy is available in New Mexico?
New Mexico experiences about 278 days of sunshine annually, and in some places, wind speeds of up to 50 miles per hour. The renewable generation potential from these resources is enormous, and significantly surpasses the energy needs within New Mexico. Unfortunately, there are not enough existing transmission lines to get this energy to locations, both within New Mexico and outside of New Mexico where it can be utilized.
Does RETA have experience in with working with transmission developers?
RETA has experience working with numerous transmission developers involved in renewable energy projects.
How does NM renewable energy compare to neighboring states?
According to the National Renewable Energy Laboratory (NREL) the central and eastern regions of New Mexico have some of the richest wind resources in the nation which are comparable to wind resources in Texas, Oklahoma, Nebraska, Iowa, and the Dakota’s. NREL’s data for solar energy shows that New Mexico’s solar resource is second only to Arizona in the United States and experiences an average of 278 days of sunshine each year.
Why should I choose New Mexico as my source for energy?
New Mexico is rich in wind and solar energy. New Mexico wind resources are closer to Arizona and California than any other significant wind resource in neighboring states therefore the associated transmission costs should be less expensive to reach customers in these markets and wind energy provides a diversified supply advantage when combined with solar energy which is already available in Arizona and California. In addition, RETA’s leadership is experienced in working with developers to build these resources.
What are the investment opportunities in NM?
Investment opportunities vary. For more information, please contact Fernando Martinez, Executive Director, at email@example.com.
MEETINGS AND AGENDAS
The next regular meeting of the NM RETA Board of Directors is scheduled for Thursday, August 12, 2021 at 9:00 a.m. in Room 309, State Capitol Building, 490 Old Santa Fe Trail, Santa Fe, NM. An agenda will be posted 72 hours prior to the meeting.