M&A Deal Summary

PNM Resources Acquires The Twin Oaks Power facility

On April 18, 2006, PNM Resources acquired renewable energy company The Twin Oaks Power facility from Sempra for 480M USD

Acquisition Highlights
  • This is PNM Resources’ 1st transaction in the Renewable Energy sector.
  • This is PNM Resources’ largest (disclosed) transaction.
  • This is PNM Resources’ 2nd transaction in the United States.
  • This is PNM Resources’ 2nd transaction in Texas.

M&A Deal Summary
Date 2006-04-18
Target The Twin Oaks Power facility
Sector Renewable Energy
Buyer(s) PNM Resources
Sellers(s) Sempra
Deal Type Divestiture
Deal Value 480M USD

Target

The Twin Oaks Power facility

Texas, United States
The Twin Oaks Power facility, a 305-megawatt plant .Twin Oaks is considered to be one of the cleanest coal-fired power plants in Texas. The plant uses fluidized bed combustion technology and limestone injection to reduce nitrogen oxide and sulfur dioxide emissions.

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Buyer(S) 1

Buyer

PNM Resources

Albuquerque, New Mexico, United States

website

Category Company
Founded 1882
Sector Utilities
Employees1,537
Revenue 2.3B USD (2022)
DESCRIPTION
Entrance to PNM Resources' corporate headquarters in Albuquerque, New Mexico.
Entrance to PNM Resources' corporate headquarters in Albuquerque, New Mexico.

PNM Resources is an energy holding company that serves electricity to more than 730,000 homes and businesses in New Mexico and Texas. PNM Resources was founded in 1882 and is based in Albuquerque, New Mexico.

DEAL STATS #
Overall 2 of 2
Sector (Renewable Energy) 1 of 1
Type (Divestiture) 1 of 1
State (Texas) 2 of 2
Country (United States) 2 of 2
Year (2006) 1 of 1
Size (of disclosed) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2005-06-06 TNP Enterprises

Fort Worth, Texas, United States

TNP Enterprises, Inc. is a provider of community based electric service to 85 cities and more than 252,000 customers in Texas and New Mexico.

Buy $189M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2009-01-30 Natural Gas Operations - PNM Resources

Albuquerque, New Mexico, United States

Sell $640M

Seller(S) 1

SELLER

Sempra

San Diego, California, United States

website

Category Company
Founded 1998
Sector Utilities
Employees18,000
Revenue 12.9B USD (2021)
DESCRIPTION
Sempra Energy's corporate headquarters in downtown San Diego, California.
Sempra Energy's corporate headquarters in downtown San Diego, California.

Sempra develops and operates critical energy infrastructure and provides gas and electricity services primarily in the Western United States. Sempra was founded in 1998 and is based in San Diego, California.

DEAL STATS #
Overall 2 of 8
Sector (Renewable Energy) 1 of 3
Type (Divestiture) 1 of 7
State (Texas) 1 of 1
Country (United States) 2 of 6
Year (2006) 1 of 1
Size (of disclosed) 5 of 6
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2000-12-12 Energy America

Stamford, Connecticut, United States

Energy America sells gas and electricity to customers in Michigan, Ohio, Maryland, Pennsylvania, New Jersey and Georgia and is one of the largest and most successful unregulated retailers in the USA.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2008-10-01 EnergySouth

Mobile, Alabama, United States

EnergySouth, Inc. is a distributor and transporter of natural gas in the United States. EnergySouth also owns two large, high-cycle underground natural gas storage facilities.

Buy $510M
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