New Mexico Governor Richardson Announces Board Members for Renewable Energy Transmission Authority (RETA)

August 21, 2007 -- Santa Fe – New Mexico Governor Bill Richardson announced today the eight-member board that will govern the Renewable Energy Transmission Authority (RETA), an entity created to help deliver New Mexico’s world-class renewable energy resources to market. The board is vested with the ability to issue revenue bonds to finance electric transmission projects that draw at least 30 percent of their energy from renewable sources.

Under the Act, three members of the board are appointed by the governor with the advice and consent of the senate; one member is appointed by the Speaker of the House; and one member is appointed by the President Pro Tempore of the State Senate. Statutorily, the other members include the State Investment Officer or designee, the State Treasurer or designee, and the Cabinet Secretary for the Department of Energy Minerals and Natural Resources who is a non-voting member.

Governor Richardson selected the following three RETA members:

• Robert E. Busch – retired President and COO of Public Service Enterprise Group Services Corp.

• Ned Farquhar – Mountain West Energy/Climate Advocate, Natural Resources Defense Council (NRDC)

• Steven S. Michel – Senior Staff Attorney, Energy Program, Western Resource Advocates

Speaker of The House Ben Lujan selected:

• Beatriz (Betty) Rivera – Founding member of Energy Resource Associates, LLC

President Pro-Tempore of the Senate Ben D. Altamirano selected:

• Robert (Bob) McNeil – Retired executive from El Paso Electric Co.

The other board members include:

• State Treasurer James Lewis

• State Investment Officer or designee

• Energy, Minerals and Natural Resources Cabinet Secretary, Joanna Prukop – ex officio

“The RETA board taps some of the most knowledgeable energy experts in the state,” said Governor Bill Richardson. “Each board member is dedicated to promoting renewable electricity and making New Mexico the Clean Energy State.”

RETA is the nation's first state-level financing authority focused on developing the towers, lines and other infrastructure needed to carry renewable-derived electricity to waiting markets. RETA will work in-state and coordinate with other regional authorities to help New Mexicans accelerate renewable energy development.

RETA's mandate is to plan, finance, build and operate new electricity transmission lines for power that draws at least 30 percent of its energy from renewable sources. It also has ability to develop energy-storage projects, such as compressed-air storage for wind power, to make the greatest possible use of New Mexico's renewable energy power-producing potential.

Source: New Mexico Governor

Bookmark/Search this post with:

 •    •    •    •    •    •    •    •    •    •    •    •