Guzman Energy Partners with National Renewable Solutions on Shallow Basket Solar and Battery Storage Project

Guzman Energy will offtake 100% of renewable power generated by Shallow Basket, a new 190 MW solar + storage development in northern NM

DENVER & MINNETONKA, Minn.–(BUSINESS WIRE)–Guzman Energy and renewable developer National Renewable Solutions (NRS) today announced the execution of a power purchase agreement (PPA) for the 140 MW Shallow Basket PV solar project to be paired with 50 MW of battery storage. The Rio Arriba County NM solar power generation and battery storage site is in the final stages of development and is expected to be operational in 2025.

NRS will build and operate the solar project, leasing the land from the Jicarilla Apache Nation. When completed, the project will be capable of supplying enough electricity to power approximately 38,000 homes in the region.

Guzman Energy will own 100% of the power and associated renewable attributes, including renewable energy credits (RECs), generated by Shallow Basket. In addition, Guzman Energy will operate and manage the battery storage system, including scheduling charging and discharging of stored energy.

“The power purchase agreement for Shallow Basket Solar is an important addition to the ever-expanding Guzman power supply portfolio,” said Christopher A. Miller, Co-Founder and CEO of Guzman Energy. “Guzman wholesale customers in New Mexico and Colorado will benefit from this new source of affordable and renewable power.”

The power generated by Shallow Basket solar and stored in battery will be part of Guzman Energy’s power supply portfolio serving current and future Guzman Energy wholesale customer power loads.

Patrick Pelstring, President and CEO of NRS, said, “This project represents a cornerstone for NRS. We’re extremely pleased to be partnering with Guzman and look forward to working with them on this and other opportunities to come.”

NRS has an active development portfolio consisting of over 4 GW of renewable projects. The Shallow Basket project is the fourth renewable project the company has developed in New Mexico.

About Guzman Energy

Guzman Energy is a wholesale power provider dedicated to communities in search of affordable and reliable energy. We partner with cooperatives, municipalities, companies and tribes across North America to customize energy portfolios that make economic and environmental sense for today and tomorrow. Together, we are lighting the way forward. To learn more, visit www.GuzmanEnergy.com.

About National Renewable Solutions

NRS is an emerging renewable IPP which has a rich history and success deploying a community-based stakeholder engagement model for its utility scale wind and solar projects. NRS originates, acquires, and develops renewable energy projects throughout the US at various stages, including from greenfield through operations. NRS is owned by an investment fund managed by an investment management subsidiary of BlackRock, Inc and with its capital markets support and global reach, NRS has positioned itself as a major player in the U.S. renewable energy market. For more information on National Renewable Solutions visit www.natrs.com.

Contacts

Guzman Energy

Amy Messenger

amessenger@guzmanenergy.com

National Renewable Solutions

Lindsey Ransom

lransom@natrs.com

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