The State of New Mexico has pledged economic assistance to WTEC Energy Corp. to redevelop an empty facility in rural
New Mexico’s natural resources are abundant, including traditional oil and natural gas coming from the Permian and San Juan Basins and renewable energies coming from cutting-edge solar and wind farms. The state provides a unique opportunity for companies to power their facilities with renewable energy, allowing them to reduce their electricity costs and carbon footprint. In fact, Facebook’s Los Lunas data center is powered by 100% renewable energy.
New Mexico is currently 3rd in oil production in the United States and 10th in Natural Gas production
New Mexico is the nation’s largest supplier of potash
New Mexico has pledged to have net-zero carbon emissions by 2050.
New Mexico’s natural resources don’t just take the form of oil and gas, wind and solar energy throughout the state have created a diverse renewable energy industry. Renewable energy production in New Mexico provided for more than 25% of the state’s in-state electricity net generation. The state ranks 2nd in the U.S. for solar energy potential and in the top 10 for wind energy potential. Renewable energy production is a rapidly growing industry in New Mexico and the state is committed to supporting that growth. New Mexico has pledged to have net-zero carbon emissions by 2050.
New Mexico has a long history of being on the cutting edge when it comes to R&D and technological advancements, and renewable energy production in the state is no different. There are two Department of Energy National Labs located in the state, Sandia and Los Alamos, and a number of other R&D institutions that have been conducting nuclear, renewable technologies, and energy storage R&D for decades.
New Mexico’s natural resources have made us a leading producer of traditional energy sources. In fact, New Mexico is currently 3rd in oil production and 10th in natural gas production in the United States.
The Permian Basin is located in southeastern New Mexico and western Texas and provides for the majority of oil production in the state. While the San Juan Basin in the northwestern part of the state is where most of the natural gas production in the state takes place. New Mexico also provides a unique opportunity for value-added or downstream companies seeking a logistical advantage to be in close proximity to the oil and gas production operations.