Blackstone Infrastructure to Acquire TXNM Energy Pending PUCT Approval

Blackstone Infrastructure has reached a unanimous settlement with parties to acquire TXNM Energy, the parent company of Texas-New Mexico Power Company (TNMP). The settlement, which is subject to approval by the Public Utility Commission of Texas (PUCT), includes a $45.5 million rate credit to TNMP customers over 48 months. The agreement also ensures local oversight, financial protections, and workforce stability for TNMP. The acquisition aims to provide value to customers and maintain investment in infrastructure.

Counterparts (10)

Buyer

Blackstone

company · 6 deals

Blackstone is the world's largest alternative asset manager, serving institutional and individual investors by building strong businesses that deliver lasting value. They invest in dynamic sectors positioned for long-term growth, leveraging their scale and operational expertise to drive transformation and create value.

Other

Texas Energy Association for Marketers

company · 1 deals

Team Management Services GmbH is a company that provides research-based tools and methods for personnel and team development. They offer seminars and tools to develop strong teams, build team competence, and improve team performance.

Office of Public Utility Counsel

company · 1 deals

The Office of Public Utility Counsel (OPUC) represents Texas consumers in matters regarding electric, telecommunications, and water utility services. They advocate for fair rates and reliable service, participating in regulatory proceedings and providing consumer education.

Valero Refining-Texas L.P.

company · 1 deals

Valero Energy Corporation is the largest global independent petroleum refiner and the largest renewable fuels producer in North America. They are focused on making products used in everyday life and being the safest and most reliable operator in the industry, with environmentally responsible refining and renewable fuel operations.

Texas Industrial Energy Consumers

company · 1 deals

Texas Industrial Energy Consumers (TIEC) is an organization representing large industrial, commercial, and institutional energy consumers in Texas. They advocate for policies that promote competitive and reliable energy markets, and work to ensure that their members have access to affordable energy.

PNM

company · 1 deals

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.

Walmart Inc.

company · 1 deals

Walmart Inc. is a multinational retail corporation that operates a chain of hypermarkets, discount department stores, and grocery stores. The company focuses on providing a wide range of products and services to consumers at competitive prices.

regulator

Public Utility Commission of Texas

company · 1 deals

The Public Utility Commission of Texas regulates the state's electric, telecommunication, and water and sewer utilities, protects customers, fosters competition, and promotes high-quality infrastructure.

target

Texas-New Mexico Power

company · 1 deals

Texas-New Mexico Power (TNMP) is an electricity transmission and distribution service provider serving more than 280,000 homes and businesses throughout Texas. The company is headquartered in Lewisville, Texas, and has more than 400 employees in more than 20 communities throughout the state.

TXNM Energy

company · 1 deals

TXNM Energy is an investment firm focused on the energy sector. They provide capital and expertise to companies involved in various aspects of the energy industry.