Hobbs, N.M. – A new natural gas-fired, 550-megawatt electrical generating station west of Hobbs is expected to be in operation by the middle of next year.
Colorado Energy Management of Lafayette is building and will operate the $300 million Maddox power plant.
Construction kicked off last week with a celebration on the 70-acre work site.
“It’s exciting to us,” said Colorado Energy president James Nolan. “This is our passion, to build a project, to bring people together, to be successful.”
Xcel Energy, which is to begin buying electricity from the plant by June 2008, has agreed to buy electricity from the plant for the next 25 years to supply the growing demand in Texas and New Mexico.
Some 500 workers will be on site by September or October for the construction phase.
There will be 20 permanent jobs.
