Just as Public Service Company of Oklahoma went before state regulators with a major expansion of power generating projects, Public Service Company of New Mexico has done the same.
It recently filed a resource plan with the New Mexico Public Regulation Commission asking for approval of 1.69GW of new generation and energy storage capacity.
As PSO’s request involved 8 expanded generating and storage projets, PNM wants authority for an addition of 800MW of wind, 240MW of solar PV, 610MW of battery energy storage systems (BESS)and 40 MW of natural gas generation.
PV Tech reports that PNM wants to replace capacity from the Four Corners Power Plant ahead of the utility’s planned exist of coal-fired plants in 2031. It says it needs the replacement ability while at the same time supporting projected demand growth of 40% in the next six years. The proposed projects form part of PNM’s US$4.9 billion five-year investment plan. The utility added that the solar, wind and BESS assets would be procured from third-party developers.
PNM said customers could also benefit from federal tax incentives available under the Inflation Reduction Act if the projects are approved and deployed before the incentives expire.
According to the Solar Energy Industries Association (SEIA), New Mexico has 4.27GWdc of installed solar capacity, backed by approximately US$6.8 billion in investment. The industry body forecasts the state will add a further 3.39GW of solar capacity over the next five years.
Last year, the NMPRC approved a 300MW expansion of the state’s community solar programme, more than doubling the 200MW capacity originally authorised under the Community Solar Act. The initial allocation included 125MW for PNM, 45MW for Southwestern Public Service Company and 30MW for El Paso Electric.
During the same period, New Mexico lawmakers approved up to US$942 million in taxable industrial revenue bonds (IRBs) to support the development of Ebon Solar’s proposed Apollo solar cell manufacturing facility in Bernalillo County. The project is planned for the Mesa del Sol industrial development area near Albuquerque.
While the names of the companies appear to be the same,Public Service Company of New Mexico is not owned by AEP, the firm that owns Public Service Company of Oklahoma. NM is the principal subsidiary of TXNM Energy (formerly PNM Resources).
