San Miguel County Board of County Commissioners Regular Meeting Agenda May 2026
County Backs $1.8B IRB for Palomas Wind Project
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Description
San Miguel County adopted an inducement resolution to issue up to $1.7856 billion in taxable industrial revenue bonds to support Palomas Power LLC’s 576-MW wind energy project. The County will lease project assets to the company, with a term up to 30 years and negotiated payments in lieu of taxes benefiting the County and school districts.
Contract Details
Contract Amount
Not to exceed $1,785,600,000 (bond principal)
Vendor
PALOMAS POWER LLC
Agency
Housing Authority of the county of San Miguel, NM
Contract Type
FINANCIAL_SERVICES
Document Date
May 12, 2026
Contract Term
Up to 30-year bond term
Renewal Date
2056-05-12
Renewal Info
Inducement resolution expresses County’s intent to issue IRBs within three years of May 12, 2026, for a term not to exceed 30 years; final bond ordinance and lease/PILOT agreements will define detailed terms.
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Related Contracts
San Miguel County Agenda 2026-06-09
PENDINGTorrance County Administrative Meeting Agenda May 2026
PENDINGIssuing Agency
Housing Authority of the county of San Miguel
Local Housing Authority
Las Vegas, NM
More from Housing Authority of the county of San Miguel
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