September 14, 2016 - 4:34 PM EDT
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PNM Resources Applauds Facebook Selection of New Mexico as Site for New Data Center

ALBUQUERQUE, N.M., Sept. 14, 2016 /PRNewswire/ -- PNM Resources (NYSE: PNM), and its New Mexico Utility, PNM, today applauded the announcement that Facebook has selected Los Lunas, New Mexico as the site for a new, multi-billion-dollar data center. PNM worked with the office of New Mexico Governor Susana Martinez, state and local economic development officials, and the New Mexico Public Regulation Commission (NMPRC) to develop a plan to bring the global internet company to New Mexico.

PNM Resources (PRNewsFoto/PNM Resources, Inc.)

"This sends a strong message that in New Mexico, we can work together to get things done that benefit the state," said Pat Vincent-Collawn, chairman, president and CEO of PNM Resources. "I congratulate and thank Governor Susana Martinez and reform-minded New Mexico Legislators for their leadership in providing the economic development tools that helped close the deal with Facebook. Their support, especially for Local Economic Development Act (LEDA) funds, has boosted New Mexico's ability to compete regionally and nationally."

The NMPRC was also an important part of the process, reviewing and approving a filing from PNM under a tight deadline. Approval of the filing will enable PNM to build new solar facilities and related infrastructure, and to deliver renewable energy to meet Facebook's requirement to have the data center achieve 100 percent renewable equivalent power.

"We are grateful to the Commissioners for their hard work in making this unique project possible while protecting the interests of utility customers," added Vincent-Collawn.

Facebook is expected to break ground on the new facility in October.

Background:
PNM Resources (NYSE: PNM) is an energy holding company based in Albuquerque, N.M., with 2015 consolidated operating revenues of $1.4 billion. Through its regulated utilities, PNM and TNMP, PNM Resources has approximately 2,787 megawatts of generation capacity and provides electricity to more than 760,000 homes and businesses in New Mexico and Texas. For more information, visit the company's website at www.PNMResources.com.

 

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Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995
Statements made in this news release that relate to future events or PNM Resources, Inc.'s ("PNMR"), Public Service Company of New Mexico's ("PNM"), or Texas-New Mexico Power Company's ("TNMP") (collectively, the "Company") expectations, projections, estimates, intentions, goals, targets, and strategies are made pursuant to the Private Securities Litigation Reform Act of 1995. Readers are cautioned that all forward-looking statements are based upon current expectations and estimates. PNMR, PNM, and TNMP assume no obligation to update this information. Because actual results may differ materially from those expressed or implied by these forward-looking statements, PNMR, PNM, and TNMP caution readers not to place undue reliance on these statements. PNMR's, PNM's, and TNMP's business, financial condition, cash flow, and operating results are influenced by many factors, which are often beyond their control, that can cause actual results to differ from those expressed or implied by the forward-looking statements. For a discussion of risk factors and other important factors affecting forward-looking statements, please see the Company's Form 10-K and Form 10-Q filings with the Securities and Exchange Commission, which factors are specifically incorporated by reference herein.

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To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/pnm-resources-applauds-facebook-selection-of-new-mexico-as-site-for-new-data-center-300328297.html

SOURCE PNM Resources, Inc.


Source: PR Newswire (September 14, 2016 - 4:34 PM EDT)

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