- 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.