trending Market Intelligence /marketintelligence/en/news-insights/trending/dat5rpf1joapoce7dvjilg2 content esgSubNav
In This List

NextEra, PNM propose extending contract for 204-MW NM wind farm

Blog

Understanding Loss Given Default A Review of Three Approaches

Blog

Insight Weekly: US recession outlook; mortgage activity slowdown; climate disclosure push

Blog

Firms Realize the Value of Data Driven Decision Making

Blog

Insight Weekly: Cybersecurity M&A momentum; US banks' loan growth; miners' labor supply woes


NextEra, PNM propose extending contract for 204-MW NM wind farm

NextEra Energy Inc. is seeking the approval of the Federal Energy Regulatory Commission for a series of transactions, as a result of the planned repowering of the 204-MW New Mexico Wind Energy Center in De Baca and Quay counties, N.M.

The proposed transactions include extending a power purchase agreement between NextEra and Public Service Co. of New Mexico. The output of the facility is contracted by the PNM Resources Inc. subsidiary until 2028, but the parties are proposing to extend the contract until 2045. In November 2017, the New Mexico Public Regulation Commission approved extending the contract.

Other proposed transactions include transferring two existing and two future leases held by FPL Energy New Mexico Wind in the facility and transferring a wholly owned subsidiary of FPLE New Mexico to New Mexico Wind.

According to the filing, Quay and De Baca counties will each issue a series of industrial revenue bonds for repowering the New Mexico Wind Energy Center. FPLE New Mexico will enter into a lease agreement with each county for all equipment associated with the repowering.

FERC was requested to issue an approval by April 6. (FERC docket EC18-57)