The proposed El Cabo wind farm, to be built on leased state trust land, would be the largest in New Mexico, said state land commissioner Ray Powell earlier this week.
The project would be built in several phases over the next ten years.
"A new and growing source of income for the state land office is renewable energy leasing, which is expected to be the largest growth area for our commercial resources division," said Powell.
"Today, there are four existing wind energy projects located on state trust lands that are expected to earn more than $50 million over the life of the projects. There are also five pending applications that are projected to earn more than $215 million in future years."
These projects include the 204MW New Mexico Wind Energy Center, comprising 136 1.5MW turbines, and operational since 2003.
Bid applications must be submitted by 13 September to qualify, with a live oral auction due to be held on 19 September at the Torrance County Courthouse.
A 45-year lease for wind project development and transmission will be awarded to the highest qualified bidder.