PNM Resources Launches Solar and Battery Storage Initiative for Sustainable Energy Transition
- PNM Resources plans to add 450 MW of solar and battery storage by 2028, supporting New Mexico's zero-carbon goals.
- The Valencia Purchase Power Agreement will extend for 167 MW until 2039, emphasizing long-term sustainable energy solutions.
- A new solar and battery storage facility in Central Consolidated School District will involve a $252 million investment.
Transitioning to Sustainable Energy: PNM Resources' New Solar and Battery Storage Initiative
On June 26, 2025, the New Mexico Public Regulation Commission (NMPRC) endorses a pivotal plan from PNM Resources, a subsidiary of TXNM Energy, to enhance its renewable energy portfolio. This initiative, part of the 2028 Resource Application, aims to introduce 450 megawatts (MW) of new solar and battery storage capacity by 2028. The approved stipulation aligns with New Mexico's Energy Transition Act, which mandates the state to achieve zero-carbon energy requirements. This commitment not only reflects the state's legislative goals but also positions PNM Resources as a leader in renewable energy within the region.
Central to the approved plan is the extension of the Valencia Purchase Power Agreement (PPA) for 167 MW, which will now last until 2039. This extension signifies PNM's dedication to long-term sustainable energy solutions. Additionally, the plan includes the development of two stand-alone battery storage facilities, each boasting a capacity of 150 MW, facilitated through Energy Storage Agreements (ESAs). The integration of these facilities is crucial for enhancing energy reliability and efficiency, particularly as the demand for renewable energy grows. The strategic investment in battery storage technology underlines PNM's proactive approach to managing energy supply and demand fluctuations.
Furthermore, PNM Resources will establish a new solar and battery storage facility with a combined capacity of 150 MW, comprising 100 MW of solar power and 50 MW of battery storage. This facility will be located in the Central Consolidated School District and represents a significant capital investment of $252 million between 2026 and 2028. The endorsement of this plan by various stakeholders—including the Utility Division Staff of the NMPRC, environmental advocacy groups, and the Central Consolidated School District—demonstrates a broad consensus on the importance of transitioning to cleaner energy sources. This project not only supports environmental goals but also fosters local economic development through job creation and investment in infrastructure.
In parallel to these developments, PNM Resources continues to serve more than 800,000 homes and businesses in Texas and New Mexico, further solidifying its role as a key player in the energy sector. The NMPRC order and related documentation are accessible via TXNM Energy's investor webpage, ensuring transparency and engagement with stakeholders. For additional insights into the company's initiatives and commitments, interested parties can visit the TXNM Energy website.