PNM 2029-2032 Generation Resources RFP
PNM is acquiring renewable energy, storage, and demand-response resources to serve 550,000+ customers across New Mexico with commercial operation required between January 2029 and January 2032. The all-source RFP seeks stand-alone and hybrid wind, solar, short- and long-duration energy storage, dynamic balancing resources, and firm generation, with minimum 10-year contracts and evaluation prioritizing Inflation Reduction Act credits, domestic sourcing, prevailing wage compliance, and siting within Navajo Nation or near PNM's load center. Resources must achieve commercial operation on specified dates to meet PNM's 2023 Integrated Resource Plan targets for affordability, reliability, and environmental impact mitigation.
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AI overview
Request for Proposals from capable providers to deliver energy and capacity resources to serve PNM's forecasted system needs between 2029 and 2032. This all-source RFP seeks resources guaranteed to achieve commercial operation and delivery of new, incremental capacity by January 1, 2029, January 1, 2030, January 1, 2031, or January 1, 2032. Specific resources sought include: (1) Stand-alone short-duration and long-duration energy storage and hybrid renewable-storage projects; (2) Wind generation projects with reliable deliverability to PNM's load center; (3) Non-wind carbon-free energy resources including solar PV and energy efficiency; (4) Dynamic balancing resources (shorter-duration energy storage and demand response); (5) Firm generating resources for extended operation periods; (6) Projects located within Navajo Nation or Central Consolidated School District with locational preferences; (7) Resources located near PNM's load center to avoid transmission curtailment risks. Proposals must satisfy minimum 10-year contract duration (maximum 20 years for base bid, up to 30 years for alternative bids). The RFP is part of resource acquisition to support PNM's 2023 Integrated Resource Plan objectives of maintaining affordability, ensuring reliability, and mitigating environmental impacts. PNM serves over 550,000 residential and business customers across New Mexico. Resource types eligible for evaluation include: Power Purchase Agreements (PPAs), Energy Storage Agreements (ESAs), Asset Purchase Agreements (APAs), Build-Transfer (BT) projects, and Demand-Side Resources (DSR). PNM specifically evaluates proposals based on ability to maximize Inflation Reduction Act provisions, domestically sourced materials, prevailing wage and apprenticeship compliance, and energy community placement. The evaluation will utilize industry-proven capacity expansion planning software and production cost simulations to optimize resource combinations. Stand-alone solar projects and coal-fired generation are excluded from consideration.
Resources & contact
Proposal Document
View proposal documentSolicitation number
645-GENALL-2024
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