For Immediate Release:
April 28, 2014
For More Information, Contact:
Karin Stangl, Assistant Commissioner of Communication, State Land Office
(505) 827-5739 work
(505) 699-1018 cell
(505) 827-5760 main
State Land Commissioner Announces Triangle Gallegos, LP Wins Lease Bid for Proposed Wind Farm near Clayton
(CLAYTON, New Mexico) – – State Land Commissioner Ray Powell announced today that Triangle Gallegos, LP, a wind energy company based in Hereford, Texas, won the bid for a wind farm project to be located on about 19,000 acres of State Trust Land and 31,000 acres of private land 35 miles west of Clayton in Union County. Transmission service will be provided by Lucky Corridor, LLC.
Triangle Gallegos, LP, a joint venture between Triangle Cattle Co., Ltd. and Gallegos Wind Farm, LLC, won the bid and agrees to lease payment terms that are estimated to generate $47 million of revenue for State Trust Land beneficiaries over the 45 year project life. Beneficiaries of the land being leased are public schools, UNM, NMSU, the New Mexico Military Institute and the NM Behavioral Health Institute.
The overall proposed project ultimately could generate about 500 megawatts of electricity via 285 wind turbines — enough electricity to supply up to 200,000 homes. The development would reduce CO2 emissions by 1.3 million tons and save over 550 million gallons of water annually compared to coal driven electricity. The project would be built in two phases starting in 2015, creating 400 total construction jobs and about 20 new, well paying permanent jobs.
“A new and growing source of income for the State Land Office is renewable energy leasing, which has become the largest growth area for our Commercial Resources Division. And, as a result of my Administration’s commitment to advancing renewable energy, the State Land Office now hosts the largest distributive and commercial solar arrays in the state and soon State Trust lands will host the largest wind farm,” said New Mexico State Land Commissioner Ray Powell. “This new project will build upon this success. With the wind and solar projects in the pipeline, the Land Office will generate hundreds of millions of dollars in future years for support of our public schools, universities and hospitals throughout the state.”
“We are grateful to the State Land Office, whose vision and commitment to the sustainable development of state land encourages businesses like ours to explore investing here,” said Glen Black, Triangle Gallegos, LP’s CEO. “We look forward to continued collaboration with the State Land Office, Union County, and other community stakeholders as we work toward making this project a reality, by bringing jobs and other economic benefits to the local communities and to the State of New Mexico.”
A live, oral public auction was held at 11:00 a.m. on April 28 at the Union County Courthouse located in Clayton, New Mexico.
The New Mexico State Land Commissioner is an elected state official responsible for administering the state’s land grant trust. Thirteen million acres of land were granted to New Mexico in 1898 and 1910. Each tract is held in trust for the public schools, universities, and hospitals. During the past three years, state trust lands produced more than $1.7 billion in income for the beneficiaries, which saves the average household about $850 a year in taxes.
Triangle Gallegos, LP (“Triangle Gallegos”) is a joint venture between Triangle Cattle Co., Ltd. and Gallegos Wind Farm, LLC. Triangle currently operates the Gallegos Ranch as a successful cattle operation. Gallegos is developing 500 MW of wind and solar energy projects on its own and neighboring land. Gallegos Phase 1 will anchor the Mora Line transmission project, while Gallegos Phase 2 is an anchor customer of the Lucky Corridor transmission project. Triangle Cattle Co., Ltd. is owned by Glen Black, Coy Myrick and J.D. Myrick, who operate various endeavors in Texas and New Mexico, including the development of more than 150,000 acres of wind and solar energy projects.
