New Mexico public utility to extend contracts with geothermal plant operators
In order to fulfill the required and set target of 20% renewable energy by 2020, the public utility PNM in New Mexico is to build own solar power installations, but also extend contracts with existing geothermal and wind plants set to be upgraded for increased output.
The Public Service Co. of New Mexico (PNM) a utility in the state of New Mexico/ U.S. has reaffirmed a commitment to boost the utility’s renewable energy to 20 percent of retail electric sales by 2020, with new solar power plants to be built as reported by Albuquerque Journal.
The Renewable Energy Plan by the utility proposed for 2019 was approved by the Public Regulation Commission. New Mexico’s renewable energy Portfolio Standards require public utilities to derive at least 20% of their electricity sales from renewable sources by 2020. The current percentate of PNM stands at 15%.
So while the company plans to install 50 MW of own solar power generation capacity, it also plans to extend existing contracts with third-party power producers to buy additional wind and geothermal electricity from plants planned to be upgraded for increased output.
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Source: Albuquerque Journl