PNM files application for new resources in 2028
PNM, a subsidiary of TXNM Energy (NYSE: TXNM), has filed an application with the New Mexico Public Regulation Commission for new energy resources to be implemented by summer 2028. The proposal includes extending a 167 MW Valencia PPA through 2039, adding 300 MW of battery storage capacity, and installing a 130 MW solar and battery storage facility. The proposed portfolio represents a $220 million capital investment from PNM, potentially increasing to $252 million with an additional 20 MW storage option. The new resources aim to meet forecasted peak load requirements and advance New Mexico's zero-carbon goals under the Energy Transition Act.
PNM, una controllata di TXNM Energy (NYSE: TXNM), ha presentato una richiesta alla New Mexico Public Regulation Commission per nuove risorse energetiche da realizzare entro l'estate del 2028. La proposta include il prolungamento di un contratto PPA da 167 MW a Valencia fino al 2039, l'aggiunta di 300 MW di capacità di stoccaggio a batteria e l'installazione di un impianto solare e di stoccaggio a batteria da 130 MW. Il portafoglio proposto rappresenta un investimento di capitale di 220 milioni di dollari da parte di PNM, che potrebbe aumentare a 252 milioni di dollari con un'opzione di stoccaggio aggiuntiva di 20 MW. Le nuove risorse mirano a soddisfare i requisiti di carico di picco previsti e a promuovere gli obiettivi di zero carbonio del New Mexico ai sensi dell'Energy Transition Act.
PNM, una filial de TXNM Energy (NYSE: TXNM), ha presentado una solicitud ante la Comisión de Regulación Pública de Nuevo México para nuevos recursos energéticos que se implementarán para el verano de 2028. La propuesta incluye la extensión de un PPA de 167 MW en Valencia hasta 2039, la adición de 300 MW de capacidad de almacenamiento en batería y la instalación de una instalación solar y de almacenamiento en batería de 130 MW. El portafolio propuesto representa una inversión de capital de 220 millones de dólares por parte de PNM, que podría aumentar a 252 millones de dólares con una opción de almacenamiento adicional de 20 MW. Los nuevos recursos tienen como objetivo cumplir con los requisitos de carga máxima previstos y avanzar hacia los objetivos de cero carbono de Nuevo México en virtud de la Ley de Transición Energética.
PNM, TXNM Energy (NYSE: TXNM)의 자회사, 는 2028년 여름까지 실행될 새로운 에너지 자원에 대해 뉴멕시코 공공 규제 위원회에 신청서를 제출했습니다. 제안에는 2039년까지 발렌시아에서의 167MW PPA 연장, 300MW의 배터리 저장 용량 추가, 130MW의 태양광 및 배터리 저장 시설 설치가 포함됩니다. 제안된 포트폴리오는 PNM의 2억 2천만 달러의 자본 투자를 나타내며, 추가 20MW 저장 옵션으로 2억 5천2백만 달러로 증가할 수 있습니다. 새로운 자원은 예상되는 최대 부하 요구를 충족하고 에너지 전환 법에 따라 뉴멕시코의 제로 탄소 목표를 향상시키는 것을 목표로 합니다.
PNM, une filiale de TXNM Energy (NYSE: TXNM), a déposé une demande auprès de la New Mexico Public Regulation Commission pour de nouvelles ressources énergétiques à mettre en œuvre d'ici l'été 2028. La proposition comprend l'extension d'un PPA de 167 MW à Valencia jusqu'en 2039, l'ajout de 300 MW de capacité de stockage par batterie et l'installation d'une installation solaire et de stockage par batterie de 130 MW. Le portefeuille proposé représente un investissement en capital de 220 millions de dollars de la part de PNM, pouvant potentiellement augmenter à 252 millions de dollars avec une option de stockage supplémentaire de 20 MW. Les nouvelles ressources visent à répondre aux exigences de charge de pointe prévues et à faire progresser les objectifs de zéro carbone du Nouveau-Mexique en vertu de la Loi sur la transition énergétique.
PNM, eine Tochtergesellschaft von TXNM Energy (NYSE: TXNM), hat einen Antrag bei der New Mexico Public Regulation Commission auf neue Energiequellen eingereicht, die bis zum Sommer 2028 implementiert werden sollen. Der Vorschlag umfasst die Verlängerung eines 167 MW-PPA in Valencia bis 2039, die Hinzufügung von 300 MW Batteriekapazität und die Installation einer 130 MW solaren und batteriebetriebenen Anlage. Das vorgeschlagene Portfolio repräsentiert eine Kapitalinvestition von 220 Millionen Dollar seitens PNM, die mit einer zusätzlichen 20-MW-Speicheroption auf bis zu 252 Millionen Dollar steigen könnte. Die neuen Ressourcen zielen darauf ab, die prognostizierten Spitzenlastanforderungen zu erfüllen und die Null-Carbon-Ziele von New Mexico im Rahmen des Energy Transition Act voranzutreiben.
- Expanding renewable energy capacity with 430 MW of new solar and battery storage
- Strategic $220-252 million capital investment in clean energy infrastructure
- Progress towards zero-carbon requirements compliance
- Extension of existing Valencia PPA securing 167 MW through 2039
- Significant capital expenditure requiring regulatory approval
- Nine-month approval timeline creates execution uncertainty
Insights
This filing represents a significant
The project's location in the Central Consolidated School District, where San Juan Generating Station was retired, demonstrates smart infrastructure planning by utilizing existing transmission infrastructure and supporting local economic development. The nine-month approval timeline is relatively aggressive but feasible, suggesting confidence in the proposal's alignment with regulatory requirements.
The investment strengthens PNM's position in meeting New Mexico's Energy Transition Act requirements while maintaining grid reliability. This balanced approach to resource diversification should provide stable returns and regulatory recovery opportunities.
This filing marks a strategic alignment with New Mexico's zero-carbon mandate, showcasing a well-structured transition from retired coal assets to renewable infrastructure. The 300 MW of standalone battery storage represents a significant grid modernization effort, while the solar-plus-storage facility demonstrates an integrated approach to renewable deployment.
The proposal's emphasis on battery storage (350 MW total potential) indicates a sophisticated understanding of grid reliability needs in a renewable-heavy future. This positions PNM favorably for future regulatory proceedings and helps derisk the company's generation portfolio against potential carbon regulations.
ALBUQUERQUE, N.M., Nov. 25, 2024 /PRNewswire/ -- PNM, a wholly-owned subsidiary of TXNM Energy (NYSE: TXNM), filed an application with the New Mexico Public Regulation Commission (NMPRC) for new energy resources to be added by summer 2028.
The proposed resource portfolio extends existing resources and adds 430 megawatts (MWs) of new solar and battery storage to meet PNM's forecasted peak load requirements in 2028 to serve its customers and to continue progress towards the zero-carbon requirements of
The filing requests approval for:
- extension of a Valencia Purchase Power Agreement (PPA) for 167 MW through 2039 (current agreement expires in 2028),
- addition of 300 MW capacity through Energy Storage Agreements (ESAs) for two, 150 MW battery stand-alone storage facilities, and
- addition of 130 MW solar and battery storage facility (100 MW solar, 30 MW battery storage), with an option for an additional 20 MW of battery storage, to be owned and operated by PNM.
The proposed placement of the 130-MW / 150-MW facility is in
The filing is subject to approval by the NMPRC and PNM has requested approval of the resources within nine months.
The application is available at https://www.txnmenergy.com/investors/rates-and-filings/pnm-nmprc-filings.aspx.
Background:
TXNM Energy (NYSE: TXNM), an energy holding company based in
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FAQ
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