Commission approves inducement resolution for 50 MW Corazon battery storage project
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Summary
Bernalillo County approved an inducement administrative resolution for Corazon Energy Storage LLC to pursue a standalone 50 MW battery energy storage project; the county will consider a later ordinance to adopt IRB benefits.
Bernalillo County commissioners voted 5-0 on March 11 to approve an administrative inducement resolution for Corazon Energy Storage LLC, a project proposed by Plus Power that would build a standalone battery energy storage system on the Parajito Mesa near an existing PNM substation.
Ms. Tobias, economic development staff, presented the inducement request. Staff said the development will involve about $190 million in capital investment to provide 50 megawatts of grid storage capacity. The county action at the meeting was an inducement resolution; staff said the developer will return later for ordinance adoption and final IRB closing.
Key terms presented: staff reported the IRB par amount being requested is $225 million (equipment-only). The IRB term on staff’s summary is 20 years and the county-specific PILOT was presented as 10% of the mill rate, which staff estimated would equal roughly $84,210 per year paid to Bernalillo County (the project will also pay a separate school payment under state renewable-energy statute). Construction was described as likely beginning in the third quarter of 2026 because of equipment lead time, with commercial operations expected in the fourth quarter of 2027.
Staff described local impacts as 40–70 construction jobs (all at prevailing wage per state statute) and one full-time contract maintenance position for operations. Ms. Tobias said the company completed public engagement during the county special-use-permit process and reported no negative comments from nearby landowners.
Commissioners expressed support. Commissioner Frank Baca called it a “win” for green energy, citing grid stability and ratepayer benefits; the commission approved the inducement resolution and staff said the ordinance for final adoption will be scheduled tentatively for June so a closing can occur before year-end.
The county will continue IRB monitoring and collect the PILOT once the project is built and operational as described by staff.
