Colorado State Land Board Reaches Major Renewable Energy Milestone with Approval of Mirasol Solar Lease

DENVER ~ Denver, CO - The Colorado State Board of Land Commissioners (State Land Board) has reached a significant milestone in advancing renewable energy with the approval of a solar production lease for the Mirasol Energy Center in Pueblo County. This lease authorizes Mirasol Energy Center to construct and operate solar facilities on approximately 1,140 acres of state trust land, with an expected generation capacity of 120 megawatts. This is enough to power 36,000 homes and is projected to generate over $26.3 million for Colorado's Public School Trust over the life of the lease.

Governor Jared Polis expressed his enthusiasm for this development, stating that it is an example of how working together can lead to more affordable and clean energy solutions. He also highlighted the multiple benefits that this initiative will bring, including cost savings for Coloradans, reduced pollution, environmental protection, increased funding for schools, and progress towards clean energy goals.

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Nicole Rosmarino, Director of the Colorado State Land Board, emphasized the positive impact that renewable energy development on state trust lands has had on both beneficiaries and the people of Colorado. She stated that each project strengthens their ability to generate long-term revenue for public schools while contributing to broader clean energy goals.

Renewable energy has become one of the fastest-growing revenue sectors for the State Land Board. With projects spanning wind, solar, battery storage, and transmission infrastructure, they now manage one of the largest renewable energy portfolios in Colorado. This approval marks another step towards diversifying long-term revenue for trust beneficiaries.

The Mirasol initiative is part of a larger 200-megawatt solar facility with a capital investment of $540 million. It will be connected to Public Service Company of Colorado's electric system through a new 230-kilovolt transmission interconnection. Construction is expected to begin in 2027 and commercial operations are anticipated in winter 2028.

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The State Land Board is committed to responsible stewardship and has incorporated best management practices into the project. These include measures to minimize site disturbance, restore native vegetation after construction, and fully reclaim the site when the lease ends. Additionally, the project has collaborated with Colorado's agricultural community, with neighboring landowners opting to participate in the project on their private lands.

Christopher Smith, State Land Board Assistant Director for Energy Innovation, highlighted how this project showcases the agency's ability to balance renewable energy development with responsible stewardship. He stated that thoughtful planning, strong partnerships, and responsible land management can help meet the state's growing energy needs while fulfilling their constitutional mission.

The Mirasol Solar Project will directly benefit Colorado's public schools as revenue generated from the ground lease will be distributed to the Colorado Department of Education's (CDE) Building Excellent Schools Today (BEST) program and the School Finance Act. This approval aligns with the State Land Board's Strategic Plan by generating dependable, long-term revenue for public schools while supporting resilient land management and contributing to statewide energy priorities.

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