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PNM Resources wins OK to buy Western Spirit transmission project

Oct. 03, 2019 11:57 AM ETPNM Resources, Inc. (PNM) StockPNMBy: Carl Surran, SA News Editor
  • PNM Resources (PNM +0.1%) says the New Mexico Public Regulation Commission approved its proposed acquisition of the Western Spirit wind power transmission project.
  • The 140-mile transmission line will collect renewable power from central New Mexico and deliver ~1,000 MW of energy to the existing grid in northwestern New Mexico.
  • PNM will become the owner of the Western Spirit project upon its completion in 2021, in return for $285M in net investment.
  • The deal already was approved the U.S. Federal Energy Regulatory Commission.

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