PNM receives approval for 410MW of solar and storage capacity

Public Service Company of New Mexico (PNM) has received approval to add 410 megawatts of new solar and storage capacity to meet growing demand by summer 2026.

Share:

PNM Nouveau Mexique

The US energy sector continues to transform, with major initiatives to increase renewable energy capacity. Public Service Company of New Mexico (PNM), a subsidiary of PNM Resources (NYSE: PNM), recently received approval from the New Mexico Public Regulation Commission (NMPRC) to add 410 megawatts (MW) of new solar and storage capacity by summer 2026. This approval marks a crucial step in the company’s efforts to achieve a carbon-free energy supply.

Meeting growing demand

PNM has seen a significant increase in demand from its retail customers, reaching historic peaks in 2022 and 2023. To meet this growing demand, the company filed an application in October 2023 after issuing a call for tenders at the end of 2022 to identify potential new resources available for 2026. Approved resources include 100 MW of solar capacity and 310 MW of battery storage capacity, including a 60 MW storage facility to be owned by PNM.

“The needs of the PNM system are growing, and we are pleased that the Commission has approved our application to meet these growing needs with additional clean energy resources,” said Pat Vincent-Collawn, President and CEO of PNM Resources. “We continue to deliver on our commitment to achieve carbon-free energy in New Mexico while ensuring that we can reliably meet the growing energy needs of our customers.”

Towards a carbon-free energy future

The integration of these new resources, in addition to the renewable and battery storage resources already approved, will increase PNM’s resource capacity to 75% carbon-free by 2026. This development is in line with the company’s goal of achieving 100% emission-free energy by 2040.
With consolidated sales of $1.9 billion in 2023, Albuquerque, N.M.-based PNM Resources serves more than 800,000 homes and businesses in New Mexico and Texas through its regulated utilities, PNM and TNMP. The company has a total installed capacity of 3.3 gigawatts, combining the production and purchase of energy.
Full details of the application and related documents are available on the PNM Resources website, and the Commission Order will be added as soon as it is available.

  • Populaires ​
Renewable energy: access improving, but financing still insufficient for Africa
Enbridge Gas Ohio challenges tariff ruling cutting its revenues by $30mn
Natural hydrogen: France on the verge of redefining its national and European energy strategy
Iberdrola increases supplementary dividend by 16.5% to €0.409 per share
Iberdrola launches metocean studies for Australian offshore wind farm
BRICS: solar production exceeds 50% of global total in 2024
Emerging economies from the BRICS group now account for more than half of global solar electricity production in 2024, driven mainly by China, India, and Brazil, according to a new report by the organisation Ember.
Star Trade and Lightsource bp sign major solar agreement in Taiwan
Star Trade, a subsidiary of HD Renewable Energy, has signed a power purchase agreement with Lightsource bp to manage electricity distribution from a 115 MWp solar project located in Chiayi, strengthening their presence in the Taiwanese market.
TotalEnergies signs with Daehwa Pharmaceutical to install solar system in Korea
TotalEnergies will develop a 1.8 MW photovoltaic installation for Daehwa Pharmaceutical, covering approximately 20% of the annual energy requirements of the production site located in Hoengseong-gun, South Korea, under a 20-year agreement.
373 MW Cleve Hill Solar Park begins commercial operations in the United Kingdom
Quinbrook Infrastructure Partners announces full operational launch of Cleve Hill Solar Park, now becoming the largest active photovoltaic power plant in the United Kingdom with a total installed capacity reaching 373 MW.
BISOL adopts G12R solar cells to strengthen its European production
European photovoltaic module manufacturer BISOL is integrating G12R solar cells into its product range, replacing the former M10 cells, to improve product performance and technological competitiveness starting from the second quarter of 2025.
Adani Green surpasses 15,000 MW installed capacity and targets record growth
Adani Green Energy Limited becomes the first Indian company to achieve 15,539.9 MW of operational renewable capacity, cementing its position among the global top 10 independent green power producers.
Pronur launches operations in Saudi Arabia to strengthen renewable energy solutions
Italian group Pronur establishes itself in Saudi Arabia with support from AstroLabs, aiming to provide advanced technologies in the renewable energy sector and develop new industrial partnerships.
Ascent Solar Technologies secures $2mn public funding to strengthen cash position
Ascent Solar Technologies, Inc. announces the launch of a $2mn public offering to finance working capital, product development and general expenses.
Ardian acquires 117 solar power plants in Italy to strengthen its energy platform
Ardian Clean Energy Evergreen Fund takes control of 117 photovoltaic plants totalling 116 MW in Italy, further consolidating its presence in the country’s renewable energy sector.
Zelestra secures $282mn financing for hybrid solar and storage project in Chile
Zelestra has secured $282mn financing from Natixis CIB, BNP Paribas and BCI for its Aurora project, combining a 220 MWdc solar plant and 1 GWh storage capacity in the Tarapacá region, Chile.
Egypt launches $200mn industrial solar complex at Ain Sokhna
Egypt has been building an industrial photovoltaic solar complex in Ain Sokhna since June 19, aiming to stimulate strategic local production with a total investment of $200 million funded by the Chinese group Sunrev.
France: Générale du Solaire inaugurates 20 MWc floating solar plant in Alsace
Générale du Solaire has inaugurated in Leutenheim, Bas-Rhin, a floating photovoltaic plant of approximately 20 MWc installed on a former gravel pit, marking the region's first large-scale project supported by successful local participatory funding.
Plenitude and Modine launch 1.585 MWp solar power plant in Italy
Plenitude and Modine have signed an agreement to build a photovoltaic plant with an installed capacity of 1.585 MWp in Pocenia, designed to power thermal and refrigeration equipment at Modine’s Italian industrial site, without initial investment.
NamPower launches $90.3mn solar power plant to secure Namibian energy
Namibia begins construction of its largest solar plant, Sores|Gaib, aiming to reduce dependence on energy imports by leveraging its solar potential, considered among the highest globally according to the World Bank.
Bangladesh Mandates Solar Panels on Public Buildings to Secure Energy Supply
Bangladesh’s interim government has ordered mandatory deployment of solar systems on public building rooftops to reduce reliance on costly fossil fuel imports amid a fragile economic backdrop.
Global electricity access reaches 92%, 666 million people still excluded
The Energy Progress Report 2025 shows an improvement in global electricity access to 92%, but highlights that 666 million people remain without electricity, particularly due to insufficient international funding for rural areas.
Global solar panel recycling market to reach $548mn by 2030
Estimated at $384.4mn in 2025, the global photovoltaic panel recycling market is expected to grow annually by 7.4%, reaching $548mn in 2030, driven by the rapidly increasing number of installations reaching end-of-life.
Global photovoltaic market heading towards $968.32bn by 2030
Estimated at $613.57bn in 2025, the global photovoltaic market is expected to reach $968.32bn by 2030, driven by declining costs and growing demand from residential and utility sectors, according to a MarketsandMarkets analysis published on June 26.
Sasol and Akuo sign major solar energy supply agreement
Sasol International Chemicals concludes a virtual contract with Akuo to supply half of the electrical needs for its Lake Charles industrial complex in the United States, via a solar plant scheduled for 2026.
Eurowind Energy invests €174.8mn in major solar park in Romania
Eurowind Energy initiates a €174.8mn investment to build a 220 MW solar park in Vișina, Romania, capable of supplying around 150,000 households annually.

LEGAL

FOSSILS

POLICY

RENEWABLE

PLUS

© XMARKET PUBLISHING

Welcome

Your subscription

Included in this subscription:

COMMUNICATE ON ENERGYNEWS