Blackstone Merger Position Statement
February 17, 2026
CVNM worked tirelessly to pass the Energy Transition Act in 2019, committing the state’s electricity to be 100% clean energy by 2045. This was a landmark policy when passed, and resulted in the shuttering of one of the dirtiest coal plants in the nation – San Juan Generating Station. Thanks to the passage of the ETA, and subsequent policies incentivizing the renewable energy economy, in 2026 New Mexico is now a majority renewable energy state for the first time in our history. However, in May 2025, private equity firm Blackstone Infrastructure Partners announced a $11.5 billion deal to acquire the state’s largest utility, Public Service Company of New Mexico (PNM). CVNM is opposed to the Blackstone acquisition for the following reasons:

