The New Mexico Public Regulation Commission (NMPRC) approved the unopposed stipulation filed in PNM's 2028 Resource Application during its open meeting on June 26, 2025. PNM is a wholly-owned subsidiary of TXNM Energy.
The approved resources will add 450 megawatts (MW) of new solar and battery storage capacity to PNM's system by 2028. This is a critical step towards serving customers and continuing progress towards the zero-carbon requirements mandated by New Mexico's Energy Transition Act.
The approved portfolio includes the extension of a Valencia Purchase Power Agreement for 167 MW through 2039, the addition of 300 MW capacity through two 150 MW stand-alone battery storage facilities, and a 150 MW solar and battery storage facility (100 MW solar, 50 MW battery storage) to be owned and operated by PNM with a $252 million capital investment from 2026 through 2028.
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