Several NM residents, organizations call for state investment in PNM
Leila Chapa and Paloma Chapa | September 7Over 50 local organizations and 1400 New Mexico residents are calling on New Mexico’s state leadership and gubernatorial candidates to invest $400 million of state funds in TXNM Energy — the parent company of the Public Service Company of New Mexico, the state’s largest electricity provider. Organizers launched a petition and an open letter — the petition signed by state residents, and the letter by organizations — calling on state leadership to replace Blackstone Infrastructure by instead investing in TXNM. TXNM recently borrowed $400 million from Wells Fargo to resolve its stock sale to Blackstone subsidiary Troy ParentCo, which the Public Regulation Commission determined had violated state law in 2025 for being completed without required PRC approval, according to non-profit New Energy Economy’s President Mariel Nanasi.






