PNM Resources Receives Approval for First Solar Projects

PNM Resources Inc., an energy holding firm, has obtained regulatory approval to operate and own 22 MW capacity of solar power plants being erected by First Solar Inc.

PNM Resources was pursuing permission to install 45 MW capacity of solar arrays. However, the New Mexico Public Regulation Commission has authorized 22 MW capacity of projects required as per an agreement with First Solar in January 2010.

This initiative is likely to cost $101.7 million. PNM Resources is intending to recover the expenses by means of a charge on the bills of customers that is likely to come into effect within one year after implementing new PNM rates. First Solar, a thin-film solar power modules manufacturer, will construct five projects with 2 – 6 MW capacities each in Las Vegas, Los Lunas, Deming, Alamogordo and Albuquerque all in New Mexico. Construction on the project is expected to be finished by the close of 2011.

As per the laws in New Mexico, electric utilities operating in the state require to provide 10% of their power from renewable sources by the year 2011 and 20% by the year 2020.