The U.S. Environmental Protection Agency (EPA) approved a revised state plan from PNM Resources' (NYSE: PNM) New Mexico utility, PNM. The revised plan calls for closing two of four units at the San Juan Generating Station, a coal-fired power plant located in the Four Corners area of northwestern New Mexico.
“EPA approval is further validation that we are on the right path toward a cleaner and more balanced power supply that will also remain affordable,” said Pat Vincent-Collawn, chairman, president and CEO of PNM Resources.
PNM, the N.M. Environment Department and EPA representatives submitted the revised plan nearly 18 months ago, drawing in support from N.M. Gov. Susana Martinez and the Navajo Nation President Ben Shelly
This approval is the second of three milestones necessary to implement the revised plan. In 2013, the plan received approval from the N.M. Environmental Improvement Board. The N.M. Public Regulation Commission (NMPRC) approval is still needed. When implemented, the revised plan would significantly reduce water use and emissions at the plant and a 30 percent reduction of coal in PNM’s portfolio.