US utility PNM has filed a resource plan with the New Mexico Public Regulation Commission (NMPRC) seeking approval for 1.69GW of new generation and energy storage capacity to support growing electricity demand and the state’s clean energy targets.
The proposal includes 800MW of wind, 240MW of solar PV, 610MW of battery energy storage systems (BESS) and 40MW of natural gas generation.
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The resources are intended to replace capacity from the Four Corners Power Plant ahead of PNM’s planned coal exit in 2031, while supporting projected demand growth of 40% by 2032.
PNM said the portfolio would advance its transition towards carbon-free electricity under New Mexico’s Energy Transition Act. The utility is also seeking an additional 50-250MW of capacity through a separate procurement process, with a further filing expected in 2026.
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.
