New Mexico's Bernalillo County Board of Commissioners approved its biggest-ever issuance of industrial revenue bonds on Tuesday with an up to $942 million conduit deal for a solar cell manufacturing facility.
Proceeds from the taxable debt will help finance an 834,000-square-foot facility in the Mesa del Sol industrial development area for Ebon Solar that officials said will create 911 jobs.
New Mexico Gov. Michelle Lujan Grisham
"We have succeeded in making New Mexico a global center for advanced energy manufacturing," she said in a statement. "Ebon Solar joins other leading companies in embracing New Mexico's commitment to renewable energy, its talented, dedicated workforce, and the opportunities we provide for job training and tuition-free college."
The 30-year bonds will be sold in a private placement that is expected to close before the end of the year, according to Marcos Gonzales, Bernalillo County's executive development officer.
Under its
The project will also receive Local Economic Development Act funding of $10 million from the New Mexico Economic Development Department and $1 million from Albuquerque, according to the county.
The facility will manufacture photovoltaic cells, which are semiconductor devices that convert light energy into electrical energy.
Last November, Albuquerque's city council
