At-a-Glance:
New Mexico regulators unanimously approved a plan to add renewable energy and storage to replace a portion of the San Juan Generating Station’s capacity owned by Public Service Company of New Mexico (PNM). The portfolio includes 650 MW of new solar resources and 300 MW of battery storage, totaling over $1 billion in investments within the districts impacted by the San Juan plant closure. To learn more, read “New Mexico approves 100% renewables + storage replacement for San Juan coal capacity.”
Key Takeaways:
- New Mexico’s Energy Transition Act (ETA) requires the state to reach 80% renewable energy by 2040 and 50% by 2030.
- A 100% renewables portfolio was the only replacement option that fully satisfied the state’s ETA, said Public Regulation Commissioner Cynthia Hall.
- The decision is estimated to bring 1,200 construction jobs to the area along with around $500 million each to two school districts that now receive benefits from the San Juan station.
Path to 100% Perspective:
Utilities, regulators and other stakeholders across the country are grappling with increasingly rapid coal plant retirements and determining what technologies should replace them in the future. New Mexico regulators’ decision to transition to a 100% renewable energy portfolio will not only help satisfy the state’s ETA by 2045, but the investments in the area will bring jobs and economic benefits to the community.
Photo by American Public Power Association