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New Mexico reached the 50% renewable-energy benchmark set for 2030 under its 2019 Energy Transition Act in 2024. PNM says it generated 80% carbon-free electricity last year and is seeking approval for a large package of wind, solar and batteries, alongside a 40-megawatt gas peaker plant. The proposal is under regulatory review and faces environmental opposition.
New Mexico reached its 2030 renewable-energy target in 2024, six years ahead of the deadline set by the state’s 2019 Energy Transition Act, according to a report by Canary Media. The milestone comes as the state’s largest utility, Public Service Company of New Mexico (PNM), reports that 80% of its electricity was carbon-free last year and seeks approval for more wind, solar and battery capacity to meet forecast demand growth.
The Energy Transition Act requires investor-owned utilities to supply 50% of their electricity from renewable sources by 2030, 80% by 2040 and carbon-free electricity by 2045. New Mexico reached the first benchmark in 2024 and continued adding renewable generation, the report said. PNM’s reported 80% carbon-free share is a separate measure: it includes electricity that does not emit carbon, rather than only renewable sources.
In May, PNM asked state regulators to approve a proposed portfolio totaling nearly 1.7 gigawatts: an 800-megawatt wind project in eastern New Mexico, 240 megawatts of solar and 610 megawatts of battery storage. The storage would be divided roughly between four-hour and eight-hour systems. The package also includes a 40-megawatt natural-gas peaker plant, which the utility says is needed to maintain reliability when renewable output is low.
PNM has a record peak demand of 2.3 gigawatts and about 5 gigawatts of installed nameplate capacity, according to the source report. The proposed resources could help it leave its 200-megawatt share of the Four Corners coal plant by July 2031. The utility’s planning is also shaped by an expectation that New Mexico electricity consumption will grow 40% by 2032, the report said.
Meeting Growth With Cleaner Power
Reaching the 2030 renewable benchmark early indicates that New Mexico has added clean generation faster than the state’s statutory timetable required. That matters as electricity use is projected to rise: new power sources must address both the shift away from fossil fuels and the need to serve more demand. The reported figures also show why “renewable” and “carbon-free” should not be treated as interchangeable. PNM’s 80% carbon-free figure does not mean that 80% came from renewables alone.
The next stage could be more difficult than adding wind and solar. Those sources vary with weather and time of day, while utilities must supply electricity throughout the year. PNM’s proposal pairs renewables with batteries and a small gas plant, making the debate over reliability part of the state’s broader emissions goals. The regulatory decision will affect the mix of resources PNM can build and the pace at which it can retire its coal stake.
New Mexico’s progress may also matter to workers and customers beyond the generation figures. The source report describes concerns about how fossil-fuel workers will fare as the power system changes, and customers have raised concerns about PNM’s pending takeover by private-equity firm Blackstone. The early target achievement does not settle those issues or establish what the proposed projects will cost customers.
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The State’s 2045 Clean-Power Law
New Mexico’s Energy Transition Act, passed in 2019, set a sequence of targets for investor-owned utilities: 50% renewables by 2030, 80% by 2040 and 100% carbon-free electricity by 2045. State Rep. Nathan Small sponsored the legislation. The 2024 result is an early achievement against the first target, not proof that the later milestones have already been met.
The state has substantial wind and solar potential, and early additions of those resources can displace some electricity from fuel-burning plants. But variable generation cannot provide power on demand in every condition. PNM also receives a small amount of nuclear power from Arizona, according to the report; it says other potential firm, clean technologies are not currently economic or are years from commercial availability.
To plan for reliability, PNM analyzes possible generation mixes against hourly demand over a 20-year period, including stretches when wind and solar output is low. Its proposed portfolio reflects that planning exercise, but the utility’s preferred mix is subject to regulatory review and is not yet an approved construction plan.
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The Gas Plant and Ownership Questions
Regulators have not yet decided whether to approve PNM’s proposed portfolio, including the 40-megawatt gas plant. Some environmental groups oppose building additional fossil-fueled generation before the 2045 carbon-free deadline, while PNM argues the plant is needed for reliability. Hearings took place in October, with additional hearings on the gas plant scheduled for January, according to the report. The final ruling and any conditions are not specified in the source material.
It is also unclear whether the proposed projects will proceed as submitted, what their final costs would be, or how they could affect customer bills. The report notes customer concern over Blackstone’s pending takeover of PNM, but does not establish how ownership would change the utility’s plans. The specific effects of the energy shift on fossil-fuel workers also remain unresolved.
The 2024 milestone should not be read as the state having completed its transition. It refers to reaching the 50% renewable benchmark; the later 2040 and 2045 requirements remain ahead, and PNM’s reported carbon-free share is not the same measure as its renewable share.
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Regulators Weigh PNM’s Proposal
The immediate next step is the state regulatory commission’s review of PNM’s resource plan, with further hearings on the gas plant scheduled for January after sessions held in October. The commission’s decision will determine whether PNM can advance the proposed mix and on what terms. Until then, the project portfolio remains a request, not an approved set of facilities.
Readers can also watch for updates on PNM’s coal-plant stake and its expected July 2031 exit, the proposed ownership change involving Blackstone, and how the utility revises its plans as demand forecasts develop. Those decisions will help show whether New Mexico can maintain its early progress while meeting reliability needs and its remaining statutory targets.
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Key Questions
What clean-energy target did New Mexico reach early?
New Mexico reached the Energy Transition Act’s 50% renewable-electricity target in 2024, six years before the 2030 deadline, according to the source report.
Does PNM’s 80% carbon-free figure mean 80% renewable?
No. PNM reported that 80% of its electricity was carbon-free last year. Carbon-free power can include sources such as nuclear energy, so the figure is not equivalent to an 80% renewable share.
What is PNM asking regulators to approve?
PNM is seeking approval for nearly 1.7 gigawatts of proposed resources: 800 megawatts of wind, 240 megawatts of solar, 610 megawatts of battery storage and a 40-megawatt gas peaker plant.
Why does the proposal include a gas plant?
PNM says the plant is needed to support reliability when wind and solar production is low. Environmental groups oppose adding fossil-fueled generation before the state’s 2045 carbon-free deadline. Regulators will consider the dispute.
Has New Mexico completed its clean-energy transition?
No. The early result applies to the 50% renewable target for 2030. The state’s law sets additional milestones of 80% renewables by 2040 and carbon-free electricity by 2045.
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