New Mexico state Auditor Hector Balderas on Wednesday will announce that he has the endorsement of former Lt. Gov. Diane Denish in his bid for the Democratic Senate nomination.

A source with knowledge of the endorsement said Balderas will announce Denish’s support on a conference call with New Mexico reporters at 2:45 p.m. EST.

Denish is a former chairwoman of the state Democratic Party, served two terms as lieutenant governor, was the Democratic nominee for governor last year and until recently was considering running for the open Albuquerque-based 1st district.

Balderas is currently locked in a competitive primary with Rep. Martin Heinrich (D) in the race to succeed retiring Sen. Jeff Bingaman (D).

Balderas raised an impressive $400,000 in the second quarter but still trails Heinrich by nearly 2-to-1 in cash on hand. Denish’s support could unlock further fundraising channels for him.