New Mexico lawmakers passed Senate Bill 489, requiring the state to get 100% of its energy from carbon-free sources by 2045. Governor Michelle Lujan Grisham praised the landmark legislation and is expected to sign the bill.
The state is set to join California and Hawaii in approving ambitious renewable energy mandates.
The proposal authorizes the use of bonds for electric utility Public Service Company of New Mexico (PNM) to pay for the costs associated with closing a coal-fired power plant located in the Four Corners area, the Albuquerque Journal’s Dan McKay explained. Requirements for investor-owned utilities in the state to shift to carbon-free generation would happen in phases: 50% from renewable sources by 2030 and 80% by 2040.
