October 13, 2020 Read More →

New Mexico eyes 100% emissions-free electricity by 2040

PV Tech:

New Mexico’s largest utility plans to develop 950MW of solar and storage by 2022 as it exits the state’s San Juan coal plant and eyes 100% emissions-free electricity by 2040.

Public Service Company of New Mexico’s (PNM) shift, supported by power purchase agreements on four generation and storage projects, also presents a barrier to the success of a proposed carbon-capture retrofit aimed at keeping the San Juan facility online, a brief from the Institute for Energy Economics and Financial Analysis (IEEFA) says.

IEEFA analyst Karl Cates said PNM’s plan signals a larger impending shift toward utility-scale renewables in the Four Corners area of Arizona and New Mexico: “It will be seen industrywide as a fresh indication – on top of many others – of where regional and national energy markets are quickly moving.” 

[Jules Scully]

More: New Mexico utility plans nearly 1GW of solar-plus-storage to replace coal plant

Posted in: IEEFA In the News

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