US based electricity provider PNM has issued a request for proposals (RFP) for renewable energy projects which will decrease its dependence on fossil fuels.

Through the RPS, PNM earns renewable energy certificates for each kWh of electricity that it generates or buys from clean, renewable energy sources.

The company is required to increase its renewable generation to 10% of its retail energy beginning this year.

In 2015, the requirement will be 15% and by 2020 it will reach 20%, the company said.

The RFP is seeking multiple proposals for hydropower, wind, solar, geothermal and bio-fuel that will help PNM achieve a fully diversified resource portfolio.

The RFP seeks renewable energy sources that can be available no later than 2014 and depending on complexity, it could take between six months and two years to develop a renewable energy facility, the company said.

PNM director of integrated resource planning Cynthia Bothwell said that the company wants to evaluate all alternatives that may be available to meet the increasing renewable requirements.