Although the company will have to make undisclosed amount to the county in place of taxes, the inducement is a major tax break for the company.

The first phase of the project is expected to feature 149 turbines, generating 300MW of energy, and its construction is expected to commence within the end of 2013, reported Mountain View Telegraph.

Iberdrola development director Mark Stacy told the website that the project includes private land leases of about 87,000acres and the company is seeking 34,000 state land leases as well.

Having secured an agreement with PNM for 1,000MW, the company is looking at a total of 1,200MW Stacy revealed.

A public auction is expected to undertake on 19 September at the Torrance County Courthouse for the state land lease.