{"id":954233,"date":"2026-04-23T09:04:49","date_gmt":"2026-04-23T13:04:49","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/city-of-socorro-awarded-state-funding-for-grid-modernization-project-in-partnership-with-socorro-electric-cooperative-and-nuvve\/"},"modified":"2026-04-23T09:04:49","modified_gmt":"2026-04-23T13:04:49","slug":"city-of-socorro-awarded-state-funding-for-grid-modernization-project-in-partnership-with-socorro-electric-cooperative-and-nuvve","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/city-of-socorro-awarded-state-funding-for-grid-modernization-project-in-partnership-with-socorro-electric-cooperative-and-nuvve\/","title":{"rendered":"City of Socorro Awarded State Funding for Grid Modernization Project in Partnership with Socorro Electric Cooperative and Nuvve"},"content":{"rendered":"<p>        <!--.bwalignc { text-align: center; list-style-position: inside }\n.bwlistdisc { list-style-type: disc }body {font:normal small Arial,Helvetica,sans-serif;color:#000;background-color:#fff;padding:24px;margin:0;} a img {border:0;} h3 {font-size:medium;color:#000;margin:0 0 1em 0; text-align:center;}-->  <\/p>\n<p class=\"bwalignc\"><b>City of Socorro Awarded State Funding for Grid Modernization Project in Partnership with Socorro Electric Cooperative and Nuvve<\/b><\/p>\n<p>SOCORRO, N.M.&#8211;(<a href=\"http:\/\/www.businesswire.com\">BUSINESS WIRE<\/a>)&#8211;<br \/>\nThe City of Socorro has been awarded $610,000 in funding from the State of New Mexico\u2019s Energy Conservation and Management Division (ECAM) to advance a grid modernization initiative aimed at improving reliability, resilience, and long-term energy infrastructure planning. The funding allows Socorro Electric Cooperative (SEC) and Nuvve New Mexico to design and engineer a utility-scale battery energy storage system (BESS) and associated grid upgrades.<\/p>\n<p>\nThe ECAM award supports a Type 2 Grid Modernization project, which includes feasibility analysis, system design, interconnection planning, and economic modeling. The effort establishes a pathway toward a future deployment phase, which is a planned 5 MW \/ 20 MWh battery system and substation.<\/p>\n<p>\n\u201cThis is an important step forward for grid modernization in New Mexico,\u201d said Ted Smith,<b \/>CEO of Nuvve New Mexico. \u201cWe are creating a clear and practical pathway toward deploying advanced battery storage in a way that improves reliability and reduces costs for the community through peak demand management, improved system efficiency and enhanced grid resilience. This project is structured to be replicable across other rural co-ops and municipalities throughout the state.\u201d<\/p>\n<p>\nThe Socorro project is designed to address key challenges facing rural electric systems, including outage duration, peak demand management, and infrastructure constraints. By leveraging advanced energy storage and intelligent grid management, the project aims to improve system reliability and provide a scalable model for other communities across New Mexico.<\/p>\n<p>\n\u201cThis project positions SEC at the forefront of grid modernization efforts in New Mexico,\u201d said Manny Gonzales, CEO of Socorro Electric Cooperative. \u201cAdding renewable sources of energy that can be dispatched for load shaving, potential cost savings, and to provide backup power in the event of the loss of AC power is a game changer.\u201d<\/p>\n<p>\nThe project will proceed in phases:<\/p>\n<ul class=\"bwlistdisc\">\n<li><b>Phase 1 (Current):<\/b> Design, engineering, and feasibility analysis funded by ECAM\n<\/li>\n<li><b>Phase 2:<\/b> Project structuring, procurement planning, and interconnection readiness\n<\/li>\n<li><b>Phase 3 (Future):<\/b> Planned deployment of battery storage and grid infrastructure, subject to additional funding and approvals\n<\/li>\n<\/ul>\n<p>\nThis phased approach reduces risk while enabling a scalable pathway toward full implementation.<\/p>\n<p>\n\u201cNuvve continues to expand its grid modernization and energy storage platform deployment in the U.S.,\u201d said Gregory Poilasne, CEO of Nuvve Holding Corp. \u201cOur partnership with the City of Socorro and Socorro Electric Cooperative demonstrates how advanced, AI-based energy management software can strengthen rural grids while supporting long-term resilience and flexibility by combining energy demand forecasting with real-time dispatch.\u201d<\/p>\n<p>\n\u201cThe City of Socorro is proud to partner with Socorro Electric Cooperative and Nuvve on this important initiative,\u201d said City of Socorro Mayor Ravi Bhasker. \u201cThis funding allows us to take a meaningful step to modernize our energy infrastructure, improve service reliability, and create long-term value for our residents and local businesses.\u201d<\/p>\n<p>\nThe Socorro initiative is expected to serve as a model for rural grid modernization across New Mexico, demonstrating how communities can leverage state funding, utility partnerships, and advanced energy technologies to improve reliability and resiliency.<\/p>\n<p><b>About Nuvve Holding Corp.<\/b><\/p>\n<p>\nNuvve Holding Corp. (NASDAQ: NVVE) is a global leader in grid modernization and energy management solutions. Through its advanced platform and distributed energy technologies, Nuvve enables utilities and communities to optimize energy usage, enhance grid reliability, and accelerate the transition to a more sustainable energy future. Learn more at <a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=http%3A%2F%2Fwww.nuvve.com&amp;esheet=54521026&amp;newsitemid=20260422818435&amp;lan=en-US&amp;anchor=www.nuvve.com&amp;index=1&amp;md5=d8916b0a99fa6ba2169a45a08cde6138\">www.nuvve.com<\/a>.<\/p>\n<p><b>About Socorro Electric Cooperative<\/b><\/p>\n<p>\nSocorro Electric Cooperative (SEC) is a member-owned electric distribution cooperative serving communities across Socorro County and surrounding areas in central New Mexico. SEC is committed to delivering safe, reliable, and affordable electric service to its members while modernizing its system to meet evolving energy needs. The Cooperative is actively exploring innovative technologies\u2014including advanced grid management and energy storage solutions\u2014to enhance system resilience, improve service reliability, and support the long-term sustainability of the communities it serves.<\/p>\n<p><b>About The City of Socorro<\/b><\/p>\n<p>\nThe City of Socorro is a historic community in central New Mexico dedicated to supporting economic development, infrastructure modernization, and quality of life for its residents and businesses. As the lead applicant for the ECAM-funded grid modernization initiative, the City is committed to advancing innovative energy solutions that improve reliability, reduce long-term costs, and position Socorro as a model for rural communities navigating the transition to a more resilient and efficient energy future.<\/p>\n<p><b>Forward-Looking Statements<\/b><\/p>\n<p>\nThis press release contains forward-looking statements or forward-looking information within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements may be identified by the use of forward-looking terms such as \u201cmay,\u201d \u201cwill,\u201d \u201cexpects,\u201d \u201cbelieves,\u201d \u201caims,\u201d \u201canticipates,\u201d \u201cplans,\u201d \u201clooking forward to,\u201d \u201cestimates,\u201d \u201cprojects,\u201d \u201cassumes,\u201d \u201cguides,\u201d \u201ctargets,\u201d \u201cforecasts,\u201d \u201ccontinue,\u201d \u201cseeks\u201d or the negatives of such terms or other variations on such terms or comparable terminology, although not all forward-looking statements contain such identifying words. Forward-looking statements include, but are not limited to, statements concerning the Company\u2019s expectations, plans, intentions, strategies, prospects, business plans, product and service offerings, new product launches, potential clinical successes, and other statements that are not historical facts. Nuvve cautions you that these forward-looking statements are subject to numerous risks and uncertainties, most of which are difficult to predict and many of which are beyond the control of Nuvve. Such statements are based upon the current beliefs and expectations of management and are subject to significant risks and uncertainties that could cause actual outcomes and results to differ materially. Some of these risks and uncertainties can be found in Nuvve\u2019s most recent Annual Report on Form 10-K and subsequent periodic reports filed with the Securities and Exchange Commission (SEC). Copies of these filings are available online at <a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=http%3A%2F%2Fwww.sec.gov&amp;esheet=54521026&amp;newsitemid=20260422818435&amp;lan=en-US&amp;anchor=www.sec.gov&amp;index=2&amp;md5=db7306cbc42421b945726d980a0b16e0\">www.sec.gov<\/a>, <a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=https%3A%2F%2Finvestors.nuvve.com%2F&amp;esheet=54521026&amp;newsitemid=20260422818435&amp;lan=en-US&amp;anchor=https%3A%2F%2Finvestors.nuvve.com%2F&amp;index=3&amp;md5=22bd2b5891aeeb0bb5b8efabaa12626a\">https:\/\/investors.nuvve.com\/<\/a> or on request from Nuvve. These factors should not be construed as exhaustive and should be read in conjunction with the other cautionary statements that are included in the Nuvve\u2019s filings with the SEC. Such forward-looking statements speak only as of the date made, and Nuvve disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Readers of this press release are cautioned not to place undue reliance on these forward-looking statements, since there can be no assurance that these forward-looking statements will prove to be accurate. This cautionary statement is applicable to all forward-looking statements contained in this press release.<\/p>\n<p><img decoding=\"async\" alt=\"\" src=\"https:\/\/cts.businesswire.com\/ct\/CT?id=bwnews&amp;sty=20260422818435r1&amp;sid=flmnd&amp;distro=nx&amp;lang=en\" style=\"width:0;height:0\" \/><span class=\"bwct31415\" \/><\/p>\n<p id=\"mmgallerylink\"><span id=\"mmgallerylink-phrase\">View source version on businesswire.com: <\/span><span id=\"mmgallerylink-link\"><a href=\"https:\/\/www.businesswire.com\/news\/home\/20260422818435\/en\/\" rel=\"nofollow\">https:\/\/www.businesswire.com\/news\/home\/20260422818435\/en\/<\/a><\/span><\/p>\n<p><b>Media Contact:<br \/>\n<\/b><br \/>Paulo Acu\u00f1a<br \/>\n<br \/>310.824.9000<br \/>\n<br \/><a rel=\"nofollow\" href=\"mailto:pacuna@olmsteadwilliams.com\">pacuna@olmsteadwilliams.com<\/a><\/p>\n<p><b>KEYWORDS:<\/b> New Mexico United States North America<\/p>\n<p><b>INDUSTRY KEYWORDS:<\/b> Technology State\/Local Batteries Utilities Green Technology Software Artificial Intelligence Alternative Energy Public Policy\/Government Environment Energy<\/p>\n<p><b>MEDIA:<\/b><\/p>\n<table cellpadding=\"3\" cellspacing=\"3\">\n<tr>\n<td><font face=\"Arial\" size=\"2\"><b>Logo<\/b><\/font><\/td>\n<\/tr>\n<tr>\n<td><img decoding=\"async\" src=\"https:\/\/mms.businesswire.com\/media\/20260422818435\/en\/2783074\/3\/UPDATED_Nuvve_vemarkforest.jpg\" alt=\"Logo\" \/><\/td>\n<\/tr>\n<tr>\n<td><font face=\"Arial\" size=\"2\"><\/font><\/td>\n<\/tr>\n<\/table>\n","protected":false},"excerpt":{"rendered":"<p>City of Socorro Awarded State Funding for Grid Modernization Project in Partnership with Socorro Electric Cooperative and Nuvve SOCORRO, N.M.&#8211;(BUSINESS WIRE)&#8211; The City of Socorro has been awarded $610,000 in funding from the State of New Mexico\u2019s Energy Conservation and Management Division (ECAM) to advance a grid modernization initiative aimed at improving reliability, resilience, and long-term energy infrastructure planning. The funding allows Socorro Electric Cooperative (SEC) and Nuvve New Mexico to design and engineer a utility-scale battery energy storage system (BESS) and associated grid upgrades. The ECAM award supports a Type 2 Grid Modernization project, which includes feasibility analysis, system design, interconnection planning, and economic modeling. The effort establishes a pathway toward a future deployment phase, which is a planned &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/city-of-socorro-awarded-state-funding-for-grid-modernization-project-in-partnership-with-socorro-electric-cooperative-and-nuvve\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;City of Socorro Awarded State Funding for Grid Modernization Project in Partnership with Socorro Electric Cooperative and Nuvve&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-954233","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>City of Socorro Awarded State Funding for Grid Modernization Project in Partnership with Socorro Electric Cooperative and Nuvve - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/city-of-socorro-awarded-state-funding-for-grid-modernization-project-in-partnership-with-socorro-electric-cooperative-and-nuvve\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"City of Socorro Awarded State Funding for Grid Modernization Project in Partnership with Socorro Electric Cooperative and Nuvve - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"City of Socorro Awarded State Funding for Grid Modernization Project in Partnership with Socorro Electric Cooperative and Nuvve SOCORRO, N.M.&#8211;(BUSINESS WIRE)&#8211; The City of Socorro has been awarded $610,000 in funding from the State of New Mexico\u2019s Energy Conservation and Management Division (ECAM) to advance a grid modernization initiative aimed at improving reliability, resilience, and long-term energy infrastructure planning. The funding allows Socorro Electric Cooperative (SEC) and Nuvve New Mexico to design and engineer a utility-scale battery energy storage system (BESS) and associated grid upgrades. The ECAM award supports a Type 2 Grid Modernization project, which includes feasibility analysis, system design, interconnection planning, and economic modeling. 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The funding allows Socorro Electric Cooperative (SEC) and Nuvve New Mexico to design and engineer a utility-scale battery energy storage system (BESS) and associated grid upgrades. The ECAM award supports a Type 2 Grid Modernization project, which includes feasibility analysis, system design, interconnection planning, and economic modeling. The effort establishes a pathway toward a future deployment phase, which is a planned &hellip; Continue reading \"City of Socorro Awarded State Funding for Grid Modernization Project in Partnership with Socorro Electric Cooperative and Nuvve\"","og_url":"https:\/\/www.marketnewsdesk.com\/index.php\/city-of-socorro-awarded-state-funding-for-grid-modernization-project-in-partnership-with-socorro-electric-cooperative-and-nuvve\/","og_site_name":"Market Newsdesk","article_published_time":"2026-04-23T13:04:49+00:00","og_image":[{"url":"https:\/\/cts.businesswire.com\/ct\/CT?id=bwnews&amp;sty=20260422818435r1&amp;sid=flmnd&amp;distro=nx&amp;lang=en","type":"","width":"","height":""}],"author":"Newsdesk","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Newsdesk","Est. reading time":"6 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/city-of-socorro-awarded-state-funding-for-grid-modernization-project-in-partnership-with-socorro-electric-cooperative-and-nuvve\/#article","isPartOf":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/city-of-socorro-awarded-state-funding-for-grid-modernization-project-in-partnership-with-socorro-electric-cooperative-and-nuvve\/"},"author":{"name":"Newsdesk","@id":"https:\/\/www.marketnewsdesk.com\/#\/schema\/person\/482f27a394d4fda80ecb5499e519d979"},"headline":"City of Socorro Awarded State Funding for Grid Modernization Project in Partnership with Socorro Electric Cooperative and Nuvve","datePublished":"2026-04-23T13:04:49+00:00","mainEntityOfPage":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/city-of-socorro-awarded-state-funding-for-grid-modernization-project-in-partnership-with-socorro-electric-cooperative-and-nuvve\/"},"wordCount":1126,"image":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/city-of-socorro-awarded-state-funding-for-grid-modernization-project-in-partnership-with-socorro-electric-cooperative-and-nuvve\/#primaryimage"},"thumbnailUrl":"https:\/\/cts.businesswire.com\/ct\/CT?id=bwnews&amp;sty=20260422818435r1&amp;sid=flmnd&amp;distro=nx&amp;lang=en","inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/city-of-socorro-awarded-state-funding-for-grid-modernization-project-in-partnership-with-socorro-electric-cooperative-and-nuvve\/","url":"https:\/\/www.marketnewsdesk.com\/index.php\/city-of-socorro-awarded-state-funding-for-grid-modernization-project-in-partnership-with-socorro-electric-cooperative-and-nuvve\/","name":"City of Socorro Awarded State Funding for Grid Modernization Project in Partnership with Socorro Electric Cooperative and Nuvve - 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