PNM Resources (PNM) to Sell Renewable JV

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Go back to PNM Resources (PNM) to Sell Renewable JV

PNM Resources Announces Sale of Renewable Joint Venture

December 26, 2023 6:30 AM EST

ALBUQUERQUE, N.M., Dec. 26, 2023 /PRNewswire/ -- PNM Resources (NYSE: PNM) has entered into an agreement to sell its 50% ownership interest in its renewable joint venture, New Mexico Renewable Development, LLC (NMRD) to Exus North America Holdings, LLC. PNM Resources and American Electric Power (AEP), which also owns 50% of NMRD, have agreed to sell the NMRD portfolio for approximately $230 million subject to true-up adjustments at close.

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