Sept. 25, 2014
PNM Reaches Agreement on Solar Energy Proposal
Albuquerque, NM: An agreement was filed with state regulators today that, if approved, would allow PNM to build 40 megawatts of new solar next year, a $79 million investment in green energy. By 2016, PNM will have enough solar power to serve 40,000 average homes.
"We are pleased with the agreement. We know that solar, in combination with other power sources, can deliver real benefits to our customers," said Pat O'Connell, PNM director of Resource Planning. The N. M. Public Regulation Commission staff, the N.M. Attorney General, the N.M Industrial Energy Consumers, Western Resource Advocates and the Coalition for Clean Affordable Energy signed the agreement, which calls for the company to build four 10-megawatt solar centers in 2015.
Today, PNM has eight operating solar centers plus three more under construction. PNM customers also benefit from wind and geothermal energy. PNM has used the power generated by the New Mexico Wind Energy Center since 2003 and will add more wind power from the Red Mesa Wind Energy Center starting Jan. 1, 2015. PNM is the first utility to use energy from the Dale Burgett Geothermal Plant.
The additional 40 megawatts of solar is part of PNM's 2015-2016 plan, filed in June, to meet a state requirement that its renewable energy portfolio equal 15 percent of the energy customers need. The solar was identified as a cost-effective resource to meet customer needs and could be used to partially replace some energy currently generated by coal.
The agreement filed today must be approved by state regulators. A public hearing will be held next month.
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.