June 2, 2014
PNM Poised to Build Four More Solar Centers Next Year and Meet a 15 Percent Renewable Energy Milestone
Albuquerque: PNM is poised to build four more solar energy centers in 2015, raising its solar capacity to 107 megawatts that could provide the power used by 40,000 average homes in a year, according to its 2015 renewable energy plan filed with the N.M. Public Regulation Commission today.
"We believe our proposal will help us provide dependable power cost-effectively while reducing water use and carbon emissions at power plants," said PNM Planning and Resource Director Pat O'Connell.
PNM's plan calls for building four 10-megawatt solar centers at a total cost of $79 million to meet the renewable energy requirement in 2016 and also to partially replace some energy currently generated by coal.
If the 2015 plan is approved, PNM's wind, solar and geothermal resources will generate the power used by 150,000 average residential customers, save approximately 382 million gallons of fresh water at power plants and reduce carbon emissions by the equivalent of taking 201,000 cars off the road.
Using a competitive bidding process, PNM identified a joint venture between Albuquerque-based Affordable Solar, Inc and GranSolar, S.A. to build two of the centers and Juwi Solar, Inc., to build the remaining two centers.
The new solar projects will create construction jobs for qualified New Mexicans and thousands of dollars of new tax revenue for the counties where they are located. PNM is evaluating multiple sites in the central part of the state.
2015 Renewable Milestone
When the state renewable energy requirement increases from 10 to 15 percent next year, PNM will be ready with a fully diverse portfolio that includes eight existing solar centers plus three new centers currently under development, geothermal energy, additional wind energy from the Red Mesa Wind Energy Center plus renewable energy certificates from its customer solar program and wind generated in eastern New Mexico. Regulators approved these resources in PNM's previous renewable plans.
PNM is required to file a plan each year showing how it will meet state renewable energy requirements. State regulators are expected to hold a public hearing and make a decision on the plan later this year.
To learn more about PNM renewable energy and energy-efficiency programs that protect the environment, visit PNM.com.
With headquarters in Albuquerque, PNM is the largest electricity provider in New Mexico, serving more than 500,000 customers in dozens of communities across the state. PNM is a subsidiary of PNM Resources, an energy holding company also headquartered in Albuquerque. For more information, visit PNM.com.