Latest news with #TXNM
Malaysian Reserve
30-06-2025
- Business
- Malaysian Reserve
Approval of Unopposed Stipulation in PNM 2028 Resource Application
ALBUQUERQUE, N.M., June 30, 2025 /PRNewswire/ — In its open meeting held June 26, 2025, the New Mexico Public Regulation Commission (NMPRC) approved the unopposed stipulation filed in PNM's 2028 Resource Application. PNM is a wholly owned subsidiary of TXNM Energy (NYSE: TXNM). The approved resources add 450 megawatts (MW) of new solar and battery storage capacity in 2028 to serve customers and continue progress towards the zero-carbon requirements of New Mexico's Energy Transition Act, including: extension of a Valencia Purchase Power Agreement (PPA) for 167 MW through 2039 (current agreement expires in 2028), addition of 300 MW capacity through Energy Storage Agreements (ESAs) for two, 150 MW battery stand-alone storage facilities, and addition of a 150 MW solar and battery storage facility (100 MW solar, 50 MW battery storage) to be located in the Central Consolidated School District and owned and operated by PNM with a capital investment of $252 million in 2026 through 2028. Parties to the stipulation included Utility Division Staff of the New Mexico Public Regulation Commission, Coalition for Clean Affordable Energy, New Energy Economy, New Mexico Affordable Reliable Energy Alliance, Western Resource Advocates and Prosperity Works. Central Consolidated School District supports the stipulation. The NMPRC order and other filings related to the application are available at Background:TXNM Energy (NYSE: TXNM), an energy holding company based in Albuquerque, New Mexico, delivers energy to more than 800,000 homes and businesses across Texas and New Mexico through its regulated utilities, TNMP and PNM. For more information, visit the company's website at Contacts: Analysts Media Lisa Goodman Corporate Communications (505) 241-2160 (505) 241-2743 Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995Statements made in this news release for TXNM Energy, Inc. ('TXNM'), Public Service Company of New Mexico ('PNM'), or Texas-New Mexico Power Company ('TNMP') (collectively, the 'Company') that relate to future events or expectations, projections, estimates, intentions, goals, targets, and strategies, including the unaudited financial results and earnings guidance, 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 and apply only as of the date of this report. TXNM, 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, TXNM, PNM, and TNMP caution readers not to place undue reliance on these statements. TXNM'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, Form 10-Q filings and the information included in the Company's Forms 8-K with the Securities and Exchange Commission, which factors are specifically incorporated by reference herein.
Associated Press
27-05-2025
- Business
- Associated Press
SHAREHOLDER INVESTIGATION: Halper Sadeh LLC Investigates INZY, TXNM, SVT, PTIX on Behalf of Shareholders
NEW YORK, May 27, 2025 (GLOBE NEWSWIRE) -- Halper Sadeh LLC, an investor rights law firm, is investigating the following companies for potential violations of the federal securities laws and/or breaches of fiduciary duties to shareholders relating to: Inozyme Pharma, Inc. (NASDAQ: INZY)'s sale to BioMarin Pharmaceutical Inc. for $4.00 per share. If you are an Inozyme shareholder, click here to learn more about your rights and options . TXNM Energy, Inc. (NYSE: TXNM)'s sale to Blackstone for $61.25 per share in cash. If you are a TXNM shareholder, click here to learn more about your legal rights and options . Servotronics, Inc. (NYSE: SVT)'s sale to TransDigm Group Incorporated for $38.50 per share in cash. If you are a Servotronics shareholder, click here to learn more about your rights and options . Protagenic Therapeutics, Inc. (NASDAQ: PTIX)'s merger with Phytanix Bio Inc. Upon completion of the proposed transaction, Protagenic shareholders are expected to own approximately 35% of the combined company. If you are a Protagenic shareholder, click here to learn more about your rights and options . Halper Sadeh LLC may seek increased consideration for shareholders, additional disclosures and information concerning the proposed transaction, or other relief and benefits on behalf of shareholders. We would handle the action on a contingent fee basis, whereby you would not be responsible for out-of-pocket payment of our legal fees or expenses. Shareholders are encouraged to contact the firm free of charge to discuss their legal rights and options. Please call Daniel Sadeh or Zachary Halper at (212) 763-0060 or email [email protected] or [email protected] . Halper Sadeh LLC represents investors all over the world who have fallen victim to securities fraud and corporate misconduct. Our attorneys have been instrumental in implementing corporate reforms and recovering millions of dollars on behalf of defrauded investors. Attorney Advertising. Prior results do not guarantee a similar outcome. Contact Information: Halper Sadeh LLC Daniel Sadeh, Esq. Zachary Halper, Esq. One World Trade Center 85th Floor New York, NY 10007 (212) 763-0060 [email protected] [email protected]
Business Wire
21-05-2025
- Business
- Business Wire
TXNM ENERGY INVESTOR ALERT by the Former Attorney General of Louisiana: Kahn Swick & Foti, LLC Investigates Adequacy of Price and Process in Proposed Sale of TXNM Energy, Inc.
NEW YORK & NEW ORLEANS--(BUSINESS WIRE)--Former Attorney General of Louisiana Charles C. Foti, Jr., Esq. and the law firm of Kahn Swick & Foti, LLC ('KSF') are investigating the proposed sale of TXNM Energy, Inc. (NYSE: TXNM) to Blackstone Infrastructure. Under the terms of the proposed transaction, shareholders of TXNM will receive $61.25 in cash for each share of TXNM that they own. KSF is seeking to determine whether this consideration and the process that led to it are adequate, or whether the consideration undervalues the Company. If you believe that this transaction undervalues the Company and/or if you would like to discuss your legal rights regarding the proposed sale, you may, without obligation or cost to you, e-mail or call KSF Managing Partner Lewis S. Kahn ( toll free at any time at 855-768-1857, or visit to learn more. To learn more about KSF, whose partners include the Former Louisiana Attorney General, visit
Yahoo
21-05-2025
- Business
- Yahoo
Group that blocked New Mexico utility merger eyes data centers in Blackstone deal
By Laila Kearney NEW YORK (Reuters) -Blackstone Infrastructure's plans for data centers in New Mexico will be a deciding factor in whether stakeholders challenge the private equity group's $11.5-billion proposed acquisition of electric company TXNM Energy, the group that blocked TXNM's previous merger plan told Reuters this week. TXNM, which is a holding company for regulated utilities, including PNM in New Mexico, announced its sale agreement with Blackstone on Monday in the latest of several recent U.S. power industry deals propelled by rising electricity demand from Big Tech's AI data centers. The agreement will require the approval of state regulators, with input from PNM stakeholders, including the New Mexico Department of Justice, consumer advocates and clean power groups such as New Energy Economy. New Energy led the effort to ultimately thwart TXNM's last agreement to sell to power company Avangrid, the U.S. unit of Spanish electric company Iberdrola. After the fight over the proposed acquisition escalated to the New Mexico Supreme Court, Avangrid abandoned its $8.3-billion bid for TXNM in late 2023. Since the foiled deal, data centers have emerged as the biggest driving force behind U.S. electricity demand, which is on track to reach record highs this year and in 2026. How Blackstone plans to capitalize on that demand in New Mexico will be a key issue in New Energy Economy's scrutiny of the TXNM purchase, the nonprofit's director, Mariel Nanasi, said. Among the considerations are whether Blackstone intends to own data centers in New Mexico, either directly or through affiliates, and how it handles the costs of upgrading electrical systems to connect the large energy loads, Nanasi said. "We are going to want to have real guardrails around that," she said. TXNM and Blackstone representatives, on a call with investors shortly after the acquisition announcement, said they planned to meet with stakeholders over the next 90 days before filing their plan with the state. As artificial intelligence data centers proliferate and grow to use record amounts of electricity, regulatory fights have emerged over who pays for additional infrastructure and upgrades needed for the giant energy consumers. The regulated utilities under TXNM can power data centers, but they are barred by state regulations from developing, owning, or operating the centers for third parties, said one person familiar with the Blackstone-TXNM arrangement, who spoke on condition of anonymity. Any transmission upgrades or power generation built to serve data centers would be paid for by the data center companies, the person said.
Reuters
21-05-2025
- Business
- Reuters
Group that blocked New Mexico utility merger eyes data centers in Blackstone deal
NEW YORK, May 21 (Reuters) - Blackstone Infrastructure's (BX.N), opens new tab plans for data centers in New Mexico will be a deciding factor in whether stakeholders challenge the private equity group's $11.5-billion proposed acquisition of electric company TXNM Energy (TXNM.N), opens new tab, the group that blocked TXNM's previous merger plan told Reuters this week. TXNM, which is a holding company for regulated utilities, including PNM in New Mexico, announced its sale agreement with Blackstone on Monday in the latest of several recent U.S. power industry deals propelled by rising electricity demand from Big Tech's AI data centers. The agreement will require the approval of state regulators, with input from PNM stakeholders, including the New Mexico Department of Justice, consumer advocates and clean power groups such as New Energy Economy. New Energy led the effort to ultimately thwart TXNM's last agreement to sell to power company Avangrid, the U.S. unit of Spanish electric company Iberdrola. After the fight over the proposed acquisition escalated to the New Mexico Supreme Court, Avangrid abandoned its $8.3-billion bid for TXNM in late 2023. Since the foiled deal, data centers have emerged as the biggest driving force behind U.S. electricity demand, which is on track to reach record highs this year and in 2026. How Blackstone plans to capitalize on that demand in New Mexico will be a key issue in New Energy Economy's scrutiny of the TXNM purchase, the nonprofit's director, Mariel Nanasi, said. Among the considerations are whether Blackstone intends to own data centers in New Mexico, either directly or through affiliates, and how it handles the costs of upgrading electrical systems to connect the large energy loads, Nanasi said. "We are going to want to have real guardrails around that," she said. TXNM and Blackstone representatives, on a call with investors shortly after the acquisition announcement, said they planned to meet with stakeholders over the next 90 days before filing their plan with the state. As artificial intelligence data centers proliferate and grow to use record amounts of electricity, regulatory fights have emerged over who pays for additional infrastructure and upgrades needed for the giant energy consumers. The regulated utilities under TXNM can power data centers, but they are barred by state regulations from developing, owning, or operating the centers for third parties, said one person familiar with the Blackstone-TXNM arrangement, who spoke on condition of anonymity. Any transmission upgrades or power generation built to serve data centers would be paid for by the data center companies, the person said.
