SANTA FE – A bill that aims to boost renewable energy production and phase out a major coal-fired power plant in New Mexico is headed toward a Senate vote.
A Senate committee endorsement on Monday cleared the way for a floor vote.
The bill would set aggressive new quotas for renewable energy production by publicly regulated utilities and cooperatives. The goal is to produce 50 percent of retail electricity from renewable sources such as wind turbines and solar panels by 2030.
The bill would allow Public Service Company of New Mexico and other owners of the San Juan Generating Station to recover investments in the coal-fired plant by selling bonds that are later paid off by utility customers.
The plant is a major employer and major sources of air pollution in the region.
