NMPRC Approves PNM Distribution Battery Storage Projects

(NMPRC, 26.Dec.2023) — The New Mexico Public Regulation Commission (NMPRC) approved the application from Public Service Company of New Mexico (PNM), wholly-owned subsidiary of PNM Resources (NYSE: PNM), to install 12 megawatts of utility owned distribution-level battery storage to expand the capacity of overloaded feeders at two locations.

This innovative solution supports reliability and resilience of the grid and accommodates more renewable energy. PNM indicated this type of solution could be implemented more broadly across its system. In the decision, the NMPRC pointed towards the evaluation of further installations in the broader context of grid modernization and distribution investment plans.

“We are pleased with the Commission’s approval of these projects and support for broader discussions on distribution and grid modernization investments,” said Pat Vincent-Collawn, CEO of PNM. “As we look forward, we continue to see a need for increased investments to meet growing demand with a reliable and resilient grid through this clean energy transition.”

The 12-megawatt battery project reflects $26mn of capital expenditures included in PNM’s investment plans and is expected to be operational in 2024. The proposal was unopposed by intervening parties.

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