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News Release
Oct. 21, 2002
PNM, FPL Energy Agreement Will Bring
Major Wind Facility to Eastern New Mexico
Albuquerque: Eastern New Mexico next year will become
the site of one of the nation's single largest wind generation
facilities, the result of an agreement announced today by
PNM, a subsidiary of PNM Resources (NYSE: PNM), and FPL Energy
LLC, a subsidiary of FPL Group, Inc. (NYSE: FPL).
Under terms of the agreement, FPL Energy will construct,
own and operate the 204-megawatt (MW) facility, located 20
miles northeast of Fort Sumner, in Quay and De Baca counties.
PNM will buy all of the power from the facility under a long-term
contract.
The facility, to be called the New Mexico Wind Energy Center,
is expected to begin commercial operation in 2003. It will
produce enough electricity to supply 94,000 average-sized
New Mexico homes.
"The scale of this project will put New Mexico on the
map as one of the nation's leading producers of renewable
energy," said PNM Chairman, President and CEO Jeff Sterba.
"As renewable technology continues to improve, and costs
come down, it is clearer than ever that smart business decisions
and environmental stewardship can successfully coexist. PNM
is thrilled to play a role in making renewable energy an everyday
reality in New Mexico."
Michael O'Sullivan, senior vice president of development
for FPL Energy, said, "We're pleased to be able to add
the New Mexico Wind Energy Center to our growing portfolio
of wind energy projects and are excited about working with
PNM on this new venture."
O'Sullivan noted that FPL Energy remains committed to wind
energy generation.
"Wind offers significant environmental benefits, helps
to diversify our energy sources and utilizes an abundant renewable
natural resource," he said. "Today's new technologies
now make wind generation more efficient and cost-effective
to our customers and their end users."
Sterba said PNM is buying the clean energy for several reasons,
including:
- its environmental benefits for New Mexico;
- interest within the state in renewable energy;
- prospects for renewable energy on the wholesale energy
market; and
- the strength this particular wind contract will bring
to PNM's competitive generation portfolio and its overall
fuel mix.
Sterba said PNM plans to ask state regulators for approval
of a program sometime in 2003 that will allow interested customers
to buy wind-generated electricity for a small monthly premium.
Any power from the facility not directed toward the residential
and business customer subscription program would be sold on
the wholesale market, either within New Mexico or outside
the state.
Construction on the New Mexico Wind Energy Center is expected
to begin later this year. Construction on a facility of this
size typically takes six to nine months to complete. The wind
facility will be composed of 136 separate towers, each 210
feet tall, with turbine blades that measure more than 110
feet in length. The facility will send power to PNM's electric
grid.
FPL Energy, headquartered in Juno Beach, Fla.,
is the nation’s leader in wind energy, with 26 wind facilities
in operation in nine states. The company is also a leading
independent producer of clean energy from natural gas, solar
energy and hydroelectric power, generating more than 80 percent
of its power from clean and renewable sources. It has a total
of 91 facilities, with nearly 11,300 megawatts of capacity
in operation, under construction or announced development
in 22 states. It is a subsidiary of FPL Group Inc., nationally
known as a high-quality, efficient and customer-driven organization
focused on energy-related products and services, and the parent
of Florida Power & Light, Florida’s largest electric
utility serving 4 million customer accounts.
 
FPL Group
(fplgroup.com)
Florida
Power & Light (fpl.com)
FPL
Energy (fplenergy.com)
PNM is the principal subsidiary of PNM Resources,
an energy holding company based in Albuquerque. PNM provides
natural gas service to 441,000 gas customers and electric
utility service to 378,000 customers in New Mexico. The company
also sells power on the wholesale market in the Western U.S.
PNM Resources stock is traded primarily on the NYSE under
the symbol PNM.
Learn more about PNM
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