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Bernhard Capital Partners acquiring New Mexico Gas Company for $1.25B

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Bernhard Capital Partners acquiring New Mexico Gas Company for .25B


Jim Bernhard, founder & partner, Bernhard Capital Partners.

Emera Inc., an international energy holding company headquartered in Canada, has entered into an agreement to sell its wholly owned subsidiary New Mexico Gas Company Inc. to Baton Rouge-based Bernhard Capital Partners.

The local private equity firm will acquire NMGC for an aggregate transaction value of $1.252 billion including the assumption of about $500 million in debt, according to a statement. The transaction is subject to regulatory approval by the New Mexico Public Regulation Commission and is expected to close in late 2025.

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Based in Albuquerque, New Mexico, NMGC maintains over 12,000 miles of transmission and distribution pipelines and provides service to more 545,000 commercial, residential and transportation customers. It is the largest natural gas utility in New Mexico. Emera acquired NMGC as part of its acquisition of TECO Energy Inc. in 2016.

“This investment directly aligns with Bernhard Capital’s strategy to invest in infrastructure assets and utilities that are critical to building more resilient communities,” says Jeff Jenkins, founder and partner at Bernhard Capital Partners.

News of the transaction follows a string of acquisitions by Bernhard Capital Partners. Just this year, it has acquired a nuclear consulting firm, a government technology services provider and a multidisciplinary development advisory and program management company.

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New Mexico

Protecting yourself from mosquitoes and West Nile virus

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Protecting yourself from mosquitoes and West Nile virus


Last week, the first New Mexico case of West Nile virus of the year was reported. So what can you do to protect yourself and others?

ALBUQUERQUE, N.M. — It’s hard to avoid those pesky mosquitoes and it seems like there’s more of them this year.

Monsoon and mosquito breeding seasons are in full swing so you’ll want to keep that bug spray on hand.

New Mexico health leaders are also ramping up warnings after confirming the state’s first West Nile virus case of the year earlier this month. Most people who get the virus are asymptomatic and 10% of people will develop West Nile fever – but they’re worried about those worst case scenarios.

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“About one percent of the West Nile virus infections are what we call neuroinvasive. So they attack the nervous system and can cause very very severe and even fatal illnesses among these people,” said Erin Phillips, of NMHealth.

Symptoms of West Nile virus include fever, head and body aches and disorientation. Leaders say the best way to reduce the risk of that virus is to eliminate the mosquitoes around you. Avoid standing water, like puddles. Also, citronella candles outside help. Make sure you wear EPA-registered mosquito repellant and long-sleeved clothing or even permethrin-treated clothing.

Also, make sure you close your windows or remove any trash or debris that may collect water.

MORE: NMHealth confirms first West Nile virus case of 2024

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New Mexico

NM governor hiring at least two people for her new statewide housing office   • Source New Mexico

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NM governor hiring at least two people for her new statewide housing office   • Source New Mexico


Gov. Michelle Lujan Grisham’s office is seeking applicants to fill at least two jobs for the newly created “Office of Housing,” a small group of executive branch officials tasked with coordinating various statewide housing programs. 

Creating a statewide housing office under the governor’s control was one of Lujan Grisham’s main priorities during the 2024 30-day legislative session. Lawmakers ultimately stymied her request to create a formal office with expanded authority, but she did find $2 million to fund new positions to work in her office on the issue over the next two years. 

The job openings include a new “director of statewide homelessness initiatives,” who  would be responsible for a “coordinated and strategic response” to the growing unhoused population across the state, according to a news release from the governor’s office. The job would pay between $75,000 and $130,000. 

The statewide housing office is also hiring at least one more person,creating a general job listing for those “with experience in housing development, programs, policy, regulatory frameworks, data and demographics,” according to the governor’s office.. That job would pay between $50,000 and $120,000. 

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The governor staffing up a state housing office comes after the Legislature made a historic one-time investment to try and spark home building across New Mexico.

New state money includes a $125 million loan program for affordable housing infrastructure and workforce housing development, a $50 million payment for the New Mexico Affordable Housing Trust Fund and $20 million for initiatives aimed at homelessness. 

New statewide housing report finds problems linger with affordability, homelessness, quality

The housing office is built to improve availability and affordability of homes across the state..The governor’s office is seeking “talented and innovative thinkers” to come up with new ideas and to build a strategic approach, according to the release. 

“The housing landscape has changed monumentally in the last few years, and it’s time for new models and new levels of coordination,” said Daniel Werwath, whom the governor hired in January to lead the office, in the news release. “The Governor is assembling an experienced team with broad expertise to develop innovative ways to combat the unprecedented housing crisis facing New Mexico.” 

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Lujan Grisham asked the Legislature to sanction her push for an Office of Housing and grant it new authority, including putting the office’s new director on the board of the New Mexico 

Mortgage Finance Authority, which recently rebranded as Housing New Mexico. She made the rare move of advocating for the bill in person in front of a legislative committee. 

A bill the governor supported faced pushback from some lawmakers who thought a new office could be redundant or get in the way of existing state entities, like Housing New Mexico. Housing New Mexico officials also lobbied against Lujan Grisham’s proposal.



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New Mexico

Ebon Solar to build $942M New Mexico plant

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Ebon Solar to build 2M New Mexico plant


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Dive Brief:

  • Ebon Solar plans to build a $942 million solar cell manufacturing factory in Albuquerque, New Mexico, the Delaware-based company said in an Aug. 7 press release.
  • The facility will span 834,000 square feet, according to the release. The investment will create at least 911 jobs including operators, technicians and engineers with salaries ranging between $30,870 and $129,960, according to city documents.
  • Ebon Solar is a subsidiary of Singapore-based chipmaker, Ebang International. The company formed Ebon in June 2021, and the investment aims to develop beginning-to-end advanced manufacturing of solar cells in the U.S.

Dive Insight:

Ebang purchased 100 acres through its subsidiary with the goal to explore new opportunities and diversify its product to strengthen shareholder value, according to Ebang’s Aug. 8 financial filing.

Construction of the solar cell plant will take place in two phases and create approximately 2,665 construction jobs, according to city filings.  The first phase is estimated to contain 1 gigawatt yearly production capacity. Phase two is anticipated to add 3.5 GW of annual production capacity.

Ebon Solar’s facility will be located in the Mesa del Sol industrial development area, according to the release. Mesa del Sol is a master-planned commercial, industrial and residential community in the Albuquerque metropolitan area, according to the Mesa del Sol website. The community is also five minutes from the Albuquerque International Sunport.

One of the goals for the community is environmental sustainability and renewable energy generation. To achieve this, developers use geodesign, which is a collaboration among designers, planners, geographers and civil engineers to find solutions for issues like climate change.

Another goal is to create more employment opportunities, by building data centers, tech campuses and warehouses in addition to manufacturing facilities, according to the website.

“The choice of Albuquerque for our investment aligns with our commitment to sustainable innovation, and New Mexico offers abundant solar resources, favorable renewable energy policies, and a dedicated, skilled workforce,” Ebon Solar CEO Judy Cai said in a statement. 

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Ebon Solar is the second solar manufacturer with plans to establish a facility in Mesa del Sol. In August 2023, Singapore-based Maxeon Solar Technologies announced plans to build a $1 billion, three-gigawatt solar panel factory, which will create 1,800 jobs.

If Mesa del Sol sounds familiar, it’s one of the sites where the AMC drama “Breaking Bad” filmed. It’s also the site of one of streamer giant Netflix’s studios, which announced plans to expand its campus in July.



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