State law requires PNM to obtain 10% of its retail sales from renewable energy this year, 12% in 2013, increasing to 15% in 2015.
Spokeswoman Susan Sponar tells Recharge that PNM is proposing a blend of company ownership, contracting with outside suppliers and purchases of renewable energy certificates to reach the targets.
PNM is asking the Public Regulation Commission to approve a 20-year power purchase agreement between the utility and a subsidiary of Cyrq Energy , which would then build a 10MW, $100m geothermal energy facility in Lordsburg, 355 miles (572km) southwest of state capital Santa Fe.
