PNM, based in Albuquerque, N.M., has issued a request for proposals (RFP) for renewable energy projects to help PNM meet the state's renewable portfolio standard (RPS).
Through the RPS, PNM earns renewable energy certificates (RECs) for each kilowatt-hour of electricity that it generates or buys from renewable energy sources such as solar and wind. PNM is required to increase its renewable generation to 10% of its retail energy beginning this year. In 2015, the requirement will be 15%, and by 2020, it will reach 20%.
The RFP is seeking multiple proposals for wind, solar, hydropower, geothermal and bio-fuel that will help PNM achieve a fully diversified resource portfolio. The state's RPS contains specific requirements for diversification, but there are other important benefits related to diversity, PNM says.
The RFP seeks renewable energy sources that can be available no later than 2014. Depending on complexity, it could take between six months and two years to develop a renewable energy facility.
The deadline for submissions is June 10. A pre-bid conference is planned for April 18. Interested parties can learn more about the RFP process at pnm.com/rfp.