GA-Solar will be investing in the project, which will take four years to fully construct and be located on 2,500 acres of land in the state's Guadalupe County.
Once completed, the project will be capable of generating 300 megawatts of solar energy, or enough energy to power 50,000 homes for an entire year.
"I believe this unprecedented investment shows that New Mexico has not only become the center of the North American solar industry, but is ready to take its place as a global player in the production of renewable energy," Richardson said. "Building a comprehensive clean energy economy is key to the economic stability and vitality of New Mexico's future."
The announcement regarding the photovoltaic panels is the third "green" project to be announced by Richardson in New Mexico this month. Other projects that have recently been okayed include wind tower manufacturers Johnson Plate and Tower, as well as green building products manufacturer C/D² Enterprises to the state.
