PNM Reaches Interim Carbon Reduction Goal with Closure of Coal-Fired San Juan Generating Station

ALBUQUERQUE, N.M., Sept. 30, 2022 /PRNewswire/ -- After nearly half a century of reliable service and more than five years of planning towards its closure, the last unit of the coal-fired San Juan Generating Station has been removed from service, as Public Service Company of New Mexico (PNM), wholly-owned subsidiary of PNM Resources, Inc. (NYSE: PNM), achieves significant progress towards its ESG goals for reducing carbon emissions from its generation portfolio.

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The four-unit, coal-fired San Juan Generating Station, whose first unit was brought online in 1973, was reduced to two units at the end of 2017 with the closure of Units 2 and 3. Unit 1 was shut down in June 2022, and Unit 4 has now been shut down in September 2022.

Coal-fired generation now comprises less than 10% of resource portfolio capacity for PNM. Carbon-free generation comprises 55% of the company's 2.7-gigawatt capacity serving New Mexico customers, with additional renewable resources under development for implementation in the coming years.

PNM Resources previously published emissions goals for 2025 including a 60% reduction of carbon emissions from owned generation facilities based on 2005 levels. The closure of San Juan Generating Station achieves this interim goal and places the company in position to reach its industry-leading goal to completely eliminate carbon emissions from its generation portfolio by 2040.

Read more about PNM Resources ESG goals and plans at https://www.pnmresources.com/esg-commitment.

PNM Resources

PNM Resources (NYSE: PNM) is an energy holding company based in Albuquerque, N.M., with 2021 consolidated operating revenues of $1.8 billion. Through its regulated utilities, PNM and TNMP, PNM Resources provides electricity to approximately 800,000 homes and businesses in New Mexico and Texas. PNM serves its customers with a diverse mix of generation and purchased power resources totaling 2.7 gigawatts of capacity, with a goal to achieve 100% emissions-free generation by 2040. For more information, visit the company's website at www.PNMResources.com.