RENEWABLE ENERGY
The evolving energy and environmental landscape offers new opportunities for resource development and management on University Lands. In FY22, a new wind facility came online positioned on 12,309 acres in the Southern Midland Basin; additionally, a new wind project encompassing 19,809 acres is in development in Culberson County, Texas.
When the Build Back Better Act passed late in 2021, which put $555 billion toward building a clean energy economy in the United States, UL received triple the amount of inquiries for renewable energy opportunities than the previous year. With the increased interest and in order to protect the Lands, University Lands is committed to carefully and diligently evaluating potential new entrants on the Lands. In FY22, University Lands launched a major research project with the Bureau of Economic Geology at the University of Texas at Austin. The purpose is to assess emerging energy resource opportunities and their fiscal and environmental impacts on University Lands acreage in West Texas. Studies of the resource potential and usages for emerging opportunities across the University Lands acreage will help inform valuation of these resources, and importantly, guide strategies to prioritize and optimize their usage in line with University Lands’ mission of responsible stewardship.
Renewable Projects
Solar 5 Leases 8.6K Acres ~1,328 MW Capacity Wind 4 Leases 54.7K Acres ~375 MW Capacity 2 Pre-Leases 31.4K Acres ~387 MW Capacity
The multi-phase research project is expected to be complete by March 2024.
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