Honors Energy, LLC is a wholly-owned subsidiary of National Renewable Solutions LLC (NRS) incorporated to develop a large utility-scale 200 MW solar project in Pueblo County, Colorado. The project is proposed to be located on approximately two sections of land, South, and East of the Xcel Energy’s Comanche generation facility.
As announced by Xcel in 2018 and 2020, two Public Service of Colorado (PSCo) generation units at the Comanche Station site are planned to be retired by 2025, potentially relieving the system of approximately 750MW and, thereby, creating excess infrastructure capacity on the immediate transmission system.
Honors Energy will be able to capitalize on a portion of this newly enabled electrical capacity, as the project is located within 10 miles of the Comanche Station. This will not only allow for Honors to take advantage of existing capacity that will soon free up but should also result in a low likelihood of any substantial grid upgrades and interconnection costs.
The Honors Energy location is also advantageous, geographically, as it is close to the 345kV and 230kV PSCo transmission systems. NRS has been in contact with PSCo and confirmed that they expect to come back into the market for more solar in 2022/23. PSCo has stated a preference for solar in and around the Comanche facility to help alleviate the economic loss associated with the shutdown of the Coal generating facility. The transmission study timeframe lends credence to this timeframe as the next cycle begins with filings between August 1stt and September 15th, 2020.
In mid 2021, NRS was acquired by BlackRock Real Assets – Climate Infrastructure Group* (“BlackRock”) with the intention of accelerating the development of its pipeline of projects toward financing, construction, and operations. With NRS’ on-the-ground development and origination expertise and BlackRock’s capital markets support and global reach, we have positioned ourselves as a major player in the U.S. renewable energy market.
* BLACKROCK REAL ASSETS OPERATES ONE OF THE LARGEST CLIMATE INFRASTRUCTURE EQUITY INVESTMENT PLATFORMS IN THE WORLD WITH OVER $9.7 BILLION IN TOTAL COMMITMENTS AND INVESTMENTS IN 450 RENEWABLE POWER AND OTHER CLIMATE RELATED PROJECTS ACROSS 17 COUNTRIES AND 5 CONTINENTS.