Investor Spotlight – El Paso Electric
El Paso Electric
El Paso Electric (EPE) has been a cornerstone of energy provision in the Texas-New Mexico border region for over 120 years. Serving 460,000 customers across a 10,000 square mile area, EPE powers major cities like El Paso, Texas, and Las Cruces, New Mexico, playing a crucial role in the region’s development.
EPE’s mission is to transform the energy landscape of the borderland while driving economic growth. This commitment is evident in the company’s recent actions, including doubling its infrastructure investments over the past three years to modernize operations and improve service reliability.
In a landmark move, EPE became the first utility in Texas and New Mexico to completely eliminate coal generation from its portfolio in 2016. This decision aligns with the company’s ambitious goals for a cleaner future, aiming to achieve 80% carbon-free energy by 2035 and full decarbonization of its generation portfolio by 2045.
The year 2023 marked significant progress for EPE. The company launched the Buena Vista Renewable Energy Center, a 170MW solar and energy storage facility capable of powering approximately 60,000 homes. EPE also expanded its commitment to sustainable transportation by installing public electric vehicle charging stations. To ensure reliable power supply, the company added 235MW of dispatchable energy and invested over $500 million in generation and grid upgrades.
EPE’s impact extends beyond providing energy to the region. The company established a Charitable Foundation that grants $1.2 million annually and offers a 100% employee donation matching program. EPE’s employees are deeply involved in community development, taking leadership roles on 60 local boards and contributing over 10,000 volunteer hours.
Most recently, EPE was named a Top Utility in Economic Development for 2024 by Site Selection magazine, recognizing the company’s dedication and visionary leadership in driving transformative economic growth and development in the region.
Looking ahead, EPE plans to continue its trajectory of growth and innovation. The company is focused on further investing in infrastructure, expanding its renewable energy options, and enhancing the overall customer experience. These efforts aim to position EPE as a forward-thinking energy provider capable of meeting the evolving needs of its diverse communities.
As a member of the Texas Economic Development Corporation (TxEDC), EPE recognizes the value of investing in economic development. The company views this partnership as an effective way to grow its customer base, enhance social well-being, and bolster the community’s reputation. EPE firmly believes that successful collaborations with organizations like TxEDC can yield substantial benefits for the region, potentially transforming the local economy with each new project.
Through its multifaceted approach to energy provision, community engagement, and economic development, El Paso Electric continues to power what matters most – the growth, sustainability, and prosperity of the region it calls home.
