PNM Resources, Inc. is a publicly traded energy holding company based in Albuquerque, New Mexico. The company operates through its two subsidiaries, Public Service Company of New Mexico (PNM) and Texas-New Mexico Power Company (TNMP). PNM Resources is primarily involved in the generation, transmission, and distribution of electricity to residential, commercial, and industrial customers in New Mexico and Texas.
PNM Resources was founded in 1917 as the Albuquerque Gas and Electric Company, and it has since grown to become a major player in the energy sector. The company has a diverse portfolio of energy assets, including natural gas, coal, nuclear, and renewable energy sources. PNM Resources is committed to providing reliable, affordable, and sustainable energy to its customers while minimizing its impact on the environment.
PNM Resources is one of the largest electric utilities in the Southwest, serving more than 2 million customers in New Mexico and Texas. The company has a total generating capacity of 2,039 megawatts, which includes 1,065 megawatts of coal-fired capacity, 576 megawatts of natural gas-fired capacity, and 398 megawatts of renewable energy capacity.
PNM Resources has been actively developing renewable energy projects in recent years, with a focus on wind and solar power. The company currently has 398 megawatts of renewable energy capacity, which includes 269 megawatts of wind power and 129 megawatts of solar power. PNM Resources has set a goal of achieving 20% renewable energy by 2020 and 50% by 2030.
In addition to its renewable energy projects, PNM Resources has also been investing in energy efficiency programs to help its customers reduce their energy consumption and save money on their energy bills. The company has implemented a number of programs, such as energy audits, rebates for energy-efficient appliances, and incentives for businesses to upgrade their lighting and HVAC systems.
PNM Resources has also been working to reduce its own carbon footprint by implementing a number of sustainability initiatives. The company has set a goal of reducing its greenhouse gas emissions by 50% by 2030, compared to 2000 levels. PNM Resources has been investing in energy-efficient technologies, such as LED lighting and smart grid systems, to reduce its energy consumption and emissions.
PNM Resources is committed to being a responsible corporate citizen and has been recognized for its efforts in sustainability. The company has been named to the Dow Jones Sustainability North America Index for the past 10 years and has received numerous awards for its renewable energy and energy efficiency programs.
In conclusion, PNM Resources, Inc. is a leading energy holding company that operates in the integrated electric utilities sector. The company is committed to providing reliable, affordable, and sustainable energy to its customers while minimizing its impact on the environment. PNM Resources has been actively developing renewable energy projects, investing in energy efficiency programs, and implementing sustainability initiatives to reduce its carbon footprint. The company has set ambitious goals for the future and is well-positioned to continue to be a leader in the energy sector.