- New Mexico Public Regulation Commission approves PNM's 2028 Resource Application.
- TXNM Energy (TXNM, Financial) to implement 450 MW of solar and battery storage capacity by 2028.
- A $252 million investment in a new solar and battery storage facility is part of the plan.
TXNM Energy (TXNM) announced that the New Mexico Public Regulation Commission (NMPRC) has approved an unopposed stipulation for PNM's 2028 Resource Application. This decision clears the path for substantial renewable energy projects, which include expanding solar and battery storage capacity by 450 megawatts (MW) by 2028.
The approved initiative consists of several critical components, including the extension of the Valencia Purchase Power Agreement, which secures 167 MW through 2039. Additionally, two standalone battery storage facilities, each contributing 150 MW, will add a combined 300 MW to the state's energy capacity.
Notably, a new solar and battery storage facility, combining 100 MW of solar power with 50 MW of battery storage, will be situated in the Central Consolidated School District. This project will require a significant capital investment totaling $252 million from 2026 to 2028.
The initiative is a part of New Mexico's Energy Transition Act, which aims for zero-carbon emissions. The alignment with state energy goals and support from diverse stakeholders, including the NMPRC Utility Division Staff and various advocacy groups, minimizes regulatory risk and underscores a collaborative approach to sustainable energy.
This strategic expansion not only supports TXNM's commitment to clean energy but also promises potential growth in their earnings by expanding the company's rate base. With these steps, TXNM is poised to make a substantial stride in achieving a greener energy future for New Mexico.
