Avangrid, a major U.S. renewable energy company, is seeking to merge with PNM Resources.
The company has received its sixth approval for this project.
Both companies are now awaiting approval from the relevant authorities in New Mexico.
Avangrid receives Nuclear Regulatory Commission approval
Avangrid announces that it has received further approval from the Nuclear Regulatory Commission (NRC) for its proposed merger with PNM Resources.
This is the sixth governmental approval since January 2021, for a project that seems to be taking shape.
All that’s missing now is an authorization from the New Mexico Public Regulatory Commission (NMPRC), where PNM is based.
A process that should not be long in coming, as the various parties wish to facilitate the signature.
The NMPRC is scheduled to hold a conference between the parties on May 28.
Economic and employment benefits for the region
Dennis V. Arriola, CEO of Avangrid, said he was looking forward to working once the merger was finalized: “This merger brings many benefits to New Mexico customers and communities, and we are encouraged by the continued approvals. We look forward to working with PNM and the people of New Mexico to stimulate economic growth and accelerate the clean energy transformation.”
What’s more, this merger is bound to have a positive impact on the region and the industry.
In all, more than $70 million will be paid to the company, enabling customers to see this improvement.
New Mexico will also benefit from 150 new full-time jobs created by Avangrid over three years.
