ALBUQUERQUE, N.M., Nov. 10, 2017 – The New Mexico Public Regulation Commission will take up the Renewable Energy Act Plan in a matter of weeks, and the vote will determine if the state meets the goal of reaching 20% renewable energy by the year 2020.

The state and Public Service Company of New Mexico have made plans to meet the 20% renewable goal by 2020, but key pieces of the plan must be confirmed this year by the PRC for the goals to be met. The plan adds more renewable to the state energy portfolio in the form of more wind power, solar power and geothermal power.

If passed, PNM will start on these renewable projects immediately so 20% of their energy portfolio will come from renewable energy. The plan also lays the groundwork to meet more aggressive renewable energy goals in the future.

The NM Renewable Energy Industry Association has come out in support of the Renewable Energy Act Plan now before the PRC.

"Not only does it help New Mexico meet its 2020 goal," said Rachel Hillier, executive director of the REIA, "but by making pre-approved PNM sites available for turnkey installations, it opens the door for local renewable energy contractors to compete for these jobs."

PNM currently has 19 renewable projects throughout the state. The Renewable Energy Act Plan would add 50 MW of solar energy by constructing five 10MW solar facilities in central New Mexico. The plan also calls for a $50 million investment in the state's only geothermal plant in southern New Mexico and an upgrade of 200 MW of wind-produced energy.

A new coalition, 20by20, has formed to show its support for passage of the Renewable Energy Act Plan.

"We are hopeful that the plan is approved so that we can continue to invest in New Mexico's renewable energy with a $50 million geothermal plant south of Lordsburg," said Nick Goodman, the CEO of Cyrq Energy, New Mexico's only geothermal company. "We will make the investment in the community and have the plant producing more power by the end of next year if this is approved."

The new projects would also create a significant amount of economic development throughout the state. The ABQWest Chamber of Commerce, Economic Forum of Albuquerque, and NAIOP are in support of the REAP.

Goodman said that there are several other possible geothermal projects in the state, and if this plan passes it could lead the way to significant development of geothermal resources in New Mexico.

"New Mexico could become one of the geothermal leaders in the country," said Goodman.

The wind, solar, and geothermal projects in the plan would allow New Mexico to reach its stated goal of 20% renewable energy by 2020, in two years. Without this plan and the projects, PNM has said it will not reach its goal in time.