PNM Contracts FPL Energy for 204MW of Wind Power

October 27, 2002 by Jeff Shepard

PNM, a wholly owned subsidiary of PNM Resources, has entered into an agreement with FPL Energy LLC (Juno Beach, FL), a subsidiary of FPL Group Inc., to develop a 204MW wind generation facility in New Mexico. FPL Energy will build, own and operate the New Mexico Wind Energy Center, consisting of 136 wind-powered turbines on a site in eastern New Mexico. PNM will buy all the power generated under a long-term contract. Construction of the wind energy site is expected to begin later this year.

"This project represents a significant step forward in reducing our reliance on fossil fuel generation," said PNM Resources Chairman, President and CEO Jeff Sterba. "For PNM, the Wind Energy Center will provide a long-term, competitively priced power source both for New Mexicans and for the wholesale power market in the Southwest."