SANTA FE — Complex legislation that would push New Mexico toward carbon-free energy generation over the next 25 years won approval in the House on Tuesday — sending the bill to Gov. Michelle Lujan Grisham in the final days of the session.
The proposal, Senate Bill 489, would authorize the use of bonds for Public Service Company of New Mexico to pay for costs associated with closing a coal-fired power plant in the Four Corners area.
It would also phase in requirements for PNM and other public utilities to shift to carbon-free energy generation by 2045. They would have to derive 50 percent of their electricity from renewable resources by 2030 and 80 percent by 2040.