TNP One Plant Sale Offer Generates High Level of Interest

Apr 12, 2001, 01:00 ET from Texas-New Mexico Power Company

    FORT WORTH, Texas, April 12 /PRNewswire/ -- Texas-New Mexico Power
 Company's announced sale of its generating facility, TNP One, has resulted in
 a significant response from prospective buyers, according to company
 officials.  The pending sale of the plant and adjacent property resulted from
 the Texas Electric Choice Act (Senate Bill 7).  The bill requires electric
 utilities to separate their business activities into a power generation
 company, a retail electric provider, and a transmission and distribution
 utility.
     "We've been very pleased with the level of interest in the sale of TNP
 One, which suggests that the market recognizes the outstanding value and
 opportunities these properties provide," said Jack Chambers, chairman,
 president and CEO of Texas-New Mexico Power Company.
     Located in Robertson County, Texas, TNP One is a two-unit, 300-megawatt
 plant that uses lignite as its primary fuel source.  TNP One is also capable
 of burning western coal, natural gas and petroleum coke, as well as less
 traditional fuels such as tire chips and oil filter fluff.  The plant utilizes
 circulating fluidized-bed technology to produce electricity with minimum
 emissions without the addition of costly scrubbers.  It is environmentally
 clean and has had superior operating performance since its completion in 1991.
     The sale offering comprises three asset packages.  The first asset package
 consists of 300-megawatt generating facility, TNP One, and the 560-acre site
 surrounding it.  The second package consists of the 2,240 acres contiguous to
 TNP One that can be used for development of additional generation.  The third
 asset package is a combination of both the first and second asset packages.
     Information -- including a video tour of the plant -- is available on the
 company's web site at www.tnpe.com.
     To receive further information regarding the sale of these asset packages,
 contact James Catacosinos or Ted Babcock at Laurel Hill Capital Partners, LLC,
 TNMP's exclusive financial adviser, at (516) 933-3100.
     Texas-New Mexico Power Company provides community-based electric service
 to 85 cities and more than 238,000 customers in Texas and New Mexico.  It is a
 wholly owned subsidiary of TNP Enterprises, Inc.
 
 

SOURCE Texas-New Mexico Power Company
    FORT WORTH, Texas, April 12 /PRNewswire/ -- Texas-New Mexico Power
 Company's announced sale of its generating facility, TNP One, has resulted in
 a significant response from prospective buyers, according to company
 officials.  The pending sale of the plant and adjacent property resulted from
 the Texas Electric Choice Act (Senate Bill 7).  The bill requires electric
 utilities to separate their business activities into a power generation
 company, a retail electric provider, and a transmission and distribution
 utility.
     "We've been very pleased with the level of interest in the sale of TNP
 One, which suggests that the market recognizes the outstanding value and
 opportunities these properties provide," said Jack Chambers, chairman,
 president and CEO of Texas-New Mexico Power Company.
     Located in Robertson County, Texas, TNP One is a two-unit, 300-megawatt
 plant that uses lignite as its primary fuel source.  TNP One is also capable
 of burning western coal, natural gas and petroleum coke, as well as less
 traditional fuels such as tire chips and oil filter fluff.  The plant utilizes
 circulating fluidized-bed technology to produce electricity with minimum
 emissions without the addition of costly scrubbers.  It is environmentally
 clean and has had superior operating performance since its completion in 1991.
     The sale offering comprises three asset packages.  The first asset package
 consists of 300-megawatt generating facility, TNP One, and the 560-acre site
 surrounding it.  The second package consists of the 2,240 acres contiguous to
 TNP One that can be used for development of additional generation.  The third
 asset package is a combination of both the first and second asset packages.
     Information -- including a video tour of the plant -- is available on the
 company's web site at www.tnpe.com.
     To receive further information regarding the sale of these asset packages,
 contact James Catacosinos or Ted Babcock at Laurel Hill Capital Partners, LLC,
 TNMP's exclusive financial adviser, at (516) 933-3100.
     Texas-New Mexico Power Company provides community-based electric service
 to 85 cities and more than 238,000 customers in Texas and New Mexico.  It is a
 wholly owned subsidiary of TNP Enterprises, Inc.
 
 SOURCE  Texas-New Mexico Power Company