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News Release
Oct. 21, 2005
PNM Invites Proposals for Renewable Energy
Albuquerque: Looking to further diversify its generation portfolio,
PNM today issued a request for proposals (RFP) that invites bids from third-party
energy suppliers interested in supplying the utility with renewable energy
certificates (RECs) and possibly power and capacity from renewable energy facilities
within New Mexico.
In order to help PNM meet the terms of New Mexico's renewable portfolio standard
(RPS), which favors resource diversity, the utility is looking for bids for
non-wind renewable resources, including solar, biomass and geothermal. PNM
already purchases a large amount of wind energy from one of the world's largest
wind energy facilities, the 200-megawatt (MW) New Mexico Wind Energy Center
located near Ft. Sumner, N.M.
"This RFP is consistent with PNM's environmental goals and an important
way to continue to diversify our generation portfolio at a price that keeps
rates affordable for our electric customers," said Evelin Wheeler, PNM
director of strategy, planning and analytics.
PNM is looking for bids from facilities that could begin producing power and
associated RECs in 2009. The bids will be evaluated against each other as well
as plans for a 10 to 50 MW biomass plant the company is considering building.
Notices of intent to submit a proposal are due Nov. 2, and final proposals
are due Nov. 18.
PNM is the principal subsidiary of PNM Resources, an
energy holding company based in Albuquerque. PNM provides electric utility
service to 419,000 customers and natural gas service to 470,000 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. For more information, see the company's Web site at PNM.com.
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