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PNM

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TXNM Energy, through its regulated utilities PNM and TNMP, serves electricity to approximately 800,000 homes and businesses in New Mexico and Texas. The company is committed to creating a clean and bright energy future and aims to achieve 100% carbon-free energy by 2040.
Investment Focus
Technologies
Utilities2
Transmission2
Gas1
Other1
Geography
United States3
USA1
Deal History (4)
New Mexico regulators reject PNM Resources merger with Avangrid
Seller Utilities United States Feb 7, 2024 USD4300M
Avangrid Completes Acquisition of PNM Resources
Seller Utilities United States Dec 18, 2024 USD4300M
Texas Commission Approves TXNM Energy Acquisition by Blackstone Infrastructure
Seller Transmission, Gas, Other USA Feb 1, 2026
Blackstone Infrastructure to Acquire TXNM Energy Pending PUCT Approval
Other Transmission United States Dec 15, 2025
Co-Investors & Partners
Avangrid
2 shared deals
Blackstone
2 shared deals
Public Utility Commission of Texas
1 shared deal
Office of Public Utility Counsel
1 shared deal
Texas Energy Association for Marketers
1 shared deal
TXNM Energy
1 shared deal
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