en.Wedoany.com Reported - US utility company PNM has submitted a resource plan to the New Mexico Public Regulation Commission (NMPRC), seeking approval for 1.69 GW of new generation and energy storage capacity to address growing electricity demand and advance the state's clean energy goals.
The proposal includes 800 MW of wind power, 240 MW of solar photovoltaic, 610 MW of battery energy storage systems (BESS), and 40 MW of natural gas generation. These projects aim to replace capacity from PNM's Four Corners Power Plant, which is scheduled to exit coal by 2031, while supporting an expected 40% demand growth by 2032.
PNM stated that the portfolio will follow New Mexico's Energy Transition Act to advance the transition to carbon-free electricity. The utility also plans to seek an additional 50 to 250 MW of capacity through a separate procurement process, with a subsequent application expected in 2026.
The proposed projects are part of PNM's total $4.9 billion five-year investment plan. The company added that solar, wind, and battery storage assets will be procured from third-party developers. PNM noted that customers could also benefit from federal tax incentives if the projects are approved and deployed before the Inflation Reduction Act incentives expire.
According to data from the Solar Energy Industries Association (SEIA), New Mexico has installed 4.27 GW of direct current solar capacity, with investments of approximately $6.8 billion, and is expected to add another 3.39 GW of solar capacity over the next five years.
Last year, the NMPRC approved expanding the state's community solar program by 300 MW, more than doubling the initially authorized capacity. The initial allocation includes 125 MW for PNM, 45 MW for Southwestern Public Service Company, and 30 MW for El Paso Electric.
During the same period, New Mexico lawmakers approved up to $942 million in taxable industrial revenue bonds (IRBs) to support Ebon Solar's proposed Apollo solar cell manufacturing facility in the Mesa del Sol industrial development zone in Bernalillo County.
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