Troutman Sanders Advises PNM on Acquisition of Renewable Transmission Project
ATLANTA – Troutman Sanders LLP advised PNM, the wholly owned New Mexico utility subsidiary of PNM Resources (NYSE: PNM), in connection with the signing of an agreement with an affiliate of Pattern Energy Group 2 LP (“Pattern Development”), and the New Mexico Renewable Energy Transmission Authority (“NM RETA”) to acquire a renewable transmission project, Western Spirit. The project involves the development of new wind resources in eastern New Mexico, which PNM will acquire upon completion of construction in 2021, resulting in a $285 million net investment. Detailed information on the transaction can be found here.
Partners Brian Harms, Mason Bayler and Amie Colby led the Troutman Sanders team advising PNM on the deal with support from Brian Fineman and Charlie Suessmith. Troutman Sanders’ Renewable Energy practice provides the full range of corporate and transactional services for clients, representing them through every stage of a project’s life cycle by counseling them regarding mergers and acquisitions, joint ventures and partnerships, and environmental permitting and federal, state and local regulatory compliance.
About Troutman Sanders With a diverse practice mix, workforce and footprint, Troutman Sanders has cultivated its reputation for a higher commitment to client care for over 120 years. Ideally positioned to help clients across sectors realize their business goals, the firm’s 650 attorneys transact for growth, resolve mission-threatening disputes and navigate complex legal and regulatory challenges. See troutman.com for more information.