FINANCIAL_SERVICESAPPROVED

Torrance County Awards Financial Services Contract to Palomas Power Llc (May 2026)

The Torrance County Commission approved an inducement resolution to issue up to $1.221 billion in taxable industrial revenue bonds to support a wind energy project developed by Palomas Power LLC. The bonds will provide tax abatements and include payment in lieu of taxes arrangements over an expected 30-year term.

Status
APPROVED
Document date
May 13, 2026
Contract type
FINANCIAL_SERVICES
Vendor
Palomas Power Llc
Agency
Torrance County · NM

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Veritone logo
TerraCycle logo
Cyvl logo
WithersRavenel logo
Derivita logo
Comcate logo
SafeTouch logo
IANS Research logo
Motive logo
Veritone logo
TerraCycle logo
Cyvl logo
WithersRavenel logo
Derivita logo
Comcate logo
SafeTouch logo
IANS Research logo
Motive logo
Veritone logo
TerraCycle logo
Cyvl logo
WithersRavenel logo
Derivita logo
Comcate logo
SafeTouch logo
IANS Research logo

Scope & details

The full contract record, as filed.

Contract amount
Not to exceed $1,221,075,000 (aggregate principal amount of taxable industrial revenue bonds)
Contract type
FINANCIAL_SERVICES
Contract term
Approximately 30-year bond term
Renewal
Initial inducement resolution for an estimated 30-year IRB structure; subsequent bond documents may define extension or refinancing options.
Document type
Minutes
Source document
Torrance County Board of Commissioners Minutes 2026-05-13

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Frequently asked questions

Common questions about this contract, answered from the record.

Who was awarded the financial services contract by Torrance County?

Palomas Power Llc was awarded this financial services contract by Torrance County, as recorded on May 13, 2026. The contract value is Not to exceed $1,221,075,000 (aggregate principal amount of taxable industrial revenue bonds).

How much is the Palomas Power Llc contract with Torrance County worth?

The Palomas Power Llc contract with Torrance County is valued at Not to exceed $1,221,075,000 (aggregate principal amount of taxable industrial revenue bonds), covering financial services work.

What type of contract is this?

This is a Financial Services contract, documented as a minutes record, structured as a not-to-exceed (ceiling) agreement.

Where was this contract approved?

This contract appears in Torrance County Board of Commissioners Minutes 2026-05-13 (Minutes), dated May 13, 2026 from Torrance County. Civic IQ extracts contract records directly from agency meeting documents and solicitations.

What other contracts does Palomas Power Llc hold?

Palomas Power Llc may hold additional government contracts. View their full contract history, the agencies they serve, and total tracked spend on their Civic IQ vendor profile.

View Palomas Power Llc's profile

What is Torrance County currently buying?

Explore Torrance County's vendors, signed contracts, and active RFPs on their Civic IQ agency profile.

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