The Roundhouse in Santa Fe. Post file photo

From the Office of the Governor:

SANTA FE – Gov. Michelle Lujan Grisham issued a statement following Avangrid’s announcement that it has terminated its merger agreement with PNM.

“The termination of the merger agreement is not the outcome we desired, but I remain confident about future investments in our state, including by Avangrid, in the wind, solar and hydrogen solutions that are powering our state’s clean energy transition.

“New Mexico is open for business and on solid footing when it comes to attracting top-tier energy transition companies. Arcosa, Maxeon, Pattern Energy and Star Scientific – they’re all choosing to do business in our state, and PNM is a key driver in solidifying these investments.

“New Mexico will continue to be a national leader in charting a clean energy economy through our electricity generation and transmission, onshoring of key supply chain components and cutting-edge technology development.”

Editor’s note: The company announced today that it terminated the $8.3 billion acquisition of PNM because it could not obtain the necessary regulatory approvals to close the merger by Dec. 31, 2023.