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PNM and parties file Unopposed Stipulation in 2028 Resource Application

Core Viewpoint - PNM, a subsidiary of TXNM Energy, has filed an unopposed comprehensive stipulation with the New Mexico Public Regulation Commission to approve a resource portfolio that includes significant investments in solar and battery storage capacity to meet zero-carbon requirements [1][2]. Group 1: Resource Portfolio and Investment - The proposed resource portfolio includes the addition of 450 megawatts (MW) of new solar and battery storage capacity by 2028, reflecting a capital investment of $252 million from PNM between 2026 and 2028 [2]. - The stipulation also includes the extension of a Valencia Purchase Power Agreement (PPA) for 167 MW through 2039, and the addition of 300 MW capacity through Energy Storage Agreements (ESAs) for two 150 MW battery stand-alone storage facilities [8]. Group 2: Stakeholders and Approval Process - The stipulation is supported by various parties, including the Utility Division Staff of the New Mexico Public Regulation Commission, Coalition for Clean Affordable Energy, and others, with Central Consolidated School District also expressing support [3]. - The stipulation is subject to approval by the NMPRC, with hearings scheduled to begin on April 2, 2025 [3].