Bidders for electricity resources sought by New Mexico energy provider

An all-source request for proposals (RFP) issued by energy provider Public Service Company of New Mexico (PNM) seeks bidders for at least 900 megawatts (MW) of new generation to be brought online between 2029 and 2032. PNM says at least 500 MW is needed by 2030.

In addition to meeting the anticipated growth in system demand, PNM said it plans to exit its minority ownership from the coal-fired Four Corners Power Plant when its current agreements expire in 2031. The 2029-2032 RFP is anticipated to identify potential replacement resources for this plant along with current natural gas generation capacity.

The RFP is consistent with resource needs the company identified in its 2023 Integrated Resource Plan, which identified the need for between 900 MW and 2,900 MW of new capacity by 2032, depending on the type of resources selected, according to a PNM statement released Dec. 31.

PNM also said it has been integrating new resources to its portfolio — growing its capacity from 2,816 MW in 2020 to 4,268 MW in 2024 — to match the growth in system demand and the transition to carbon-free resources, and that new solar, wind, and battery storage capacity has transitioned PNM’s portfolio to 72 percent carbon-free.

Story continues

TRENDING NOW

LATEST LOCAL NEWS