PNM Resources’ subsidiary Public Service Company of New Mexico (PNM) has completed its $285m purchase of the Western Spirit transmission line, which will support the development of new wind resources in eastern New Mexico.
PNM announced on 1 May 2019 that it had entered into an agreement with affiliates of Pattern Energy Group 2 and the New Mexico Renewable Energy Transmission Authority (NM RETA) to acquire Western Spirit.
NM RETA and Pattern partnered to develop and construct Western Spirit, and PNM has acquired the project as planned.
The capacity additions strengthen the existing PNM transmission system and provide upgrades to accommodate 800MW of new wind energy.
PNM Resources chairman, president and chief executive Pat Vincent-Collawn said: “This project demonstrates one way New Mexico’s renewable potential can be used to advance the state’s economy, and it also highlights the critical need for transmission investment to achieve the clean energy future.
“We support NM RETA’s goal to encourage renewable investment in the state and look forward to additional future opportunities.”