PNM Applies For 430 MW New Solar, Battery Storage

(RTTNews) - PNM, a subsidiary of TXNM Energy Inc. (TXNM), announced on Monday that it has filed an application with the New Mexico Public Regulation Commission or NMPRC for new energy resources to be added by summer 2028.

The proposed resource portfolio extends existing resources to add 430 megawatts or MWs of new solar and battery storage.

This aims to meet PNM's estimated peak load requirements in 2028 to serve its customers and to fullfil the zero-carbon requirements.

The company's filing seeks approval for an extension of a Valencia Purchase Power Agreement or PPA for 167 MW through 2039 as the current agreement expires in 2028.

PNM requires an addition of 300 MW capacity through energy storage agreements for two, 150 MW battery stand-alone storage facilities. The firm applied for an addition of 130 MW solar and battery storage facility, 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 New Mexico's Central Consolidated School District, where the San Juan Generating Station was retired in 2022.

The proposed portfolio reflects $220 million of capital investment from PNM, or $252 million if the option for the additional 20 MW of storage is selected.