ABQJOURNAL BIZ: Around N.M.

Wednesday, June 24, 2009

Around N.M.

Journal and Wire Reports
      Emcore Joins PNM In Solar Program
Albuquerque-based Emcore Corp. has become the first company to sign on with PNM's distributed generation solar program, the companies announced Tuesday.
       Emcore, which manufac-tures solar cells, will install a photovoltaic array capable of generating 114 kilowatts for Emcore and PNM use. PNM said its program allows power to be generated close to point of use and distributed without requiring a comprehensive transmission infrastructure.
       The two companies plan a formal unveiling at Emcore on Thursday.

       Sacred Power Firm Lands SBA Honor
The U.S. Small Business Administration on Tuesday recognized Sacred Power Corp. in Albuquerque as being among the winners of the 2009 Inner City 100 competition, held by the Initiative for a Competitive Inner City.
       The Inner City 100 lists fast-growing companies located in America's inner cities. The award spotlights and supports growing companies in urban areas and highlights the importance of a healthy economy in developing healthy urban communities.
       Chosen from a pool of nearly 6,500 applicants, Sacred Power Corp. is a 2008 graduate of the SBA's Emerging 200 initiative in Albuquerque. It is a Native American-owned and -operated small business with a charter to provide renewable and distributive energy, as well as telecommunications solutions.

       Texas-N.M. Power Reaches Rate Pact
PNM Resources' Texas-New Mexico Power says it had reached a tentative agreement with interested parties for $6.8 million increase to base rates, plus an additional $5.9 million of revenue associated with hurricane restoration and financing costs.
       The agreement, PNM Resources said in a news release, was presented to the administrative law judges of the Texas State Office of Administrative Hearings. A formal stipulation is to be filed by mid-July with the Public Utilities Commission of Texas, which could consider the agreement in August.
       The agreement allows a return on equity of 10.25 percent on Hurricane Ike recovery costs and future transmission rate base.
       The increases would impact retail electricity providers that serve 231,000 customers in 76 cities within TNMP's service territory in Texas.

       Cruces Home Sales Continue To Slide
LAS CRUCES — Home sales continue to be down in 2009 compared to last year in the Las Cruces area, according to figures provided by Steinborn Inc. Real Estate's research department.
       Through the end of May, 480 homes have sold, compared to 606 for the same time period in 2008. The average price for a home sold in the first five months last year was $215,872. This year, the average dropped to $187,694.
       Still, there are signs that the negative trend of the market might finally be slowing.
       When May is taken on its own, sales were still down compared to May 2008, but they fell just 8.2 percent, from 133 to 122.
       The average price for a home sold in May rose compared to last year. The average price for a home sold in May was $215,124. Last year it was $211,851.

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