PNM, a wholly-owned subsidiary of TXNM Energy, has issued an all-source Request for Proposals (RFP) for new energy resources. The RFP seeks at least 900 megawatts of capacity to come online between 2029 and 2032, with a minimum of 500 megawatts required by 2030 to serve customers in New Mexico.
This RFP aligns with resource needs identified in PNM's 2023 Integrated Resource Plan, which projects a requirement for 900 to 2,900 megawatts of new capacity by 2032. The company has been actively integrating new resources, increasing its carbon-free generation capacity to 72% in 2024.
The new resources are intended to meet anticipated growth in system demand and facilitate PNM's planned exit from its minority ownership in the coal-fired Four Corners Power Plant by 2031. Any proposed resource replacements or additions will be subject to review and approval by the New Mexico Public Regulation Commission.
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