Navajo Nation company ends bid to buy power plant, mine
ALBUQUERQUE, N.M. (AP) — One of the largest coal-fired power plants in the West will close this year as planned after a Navajo Nation company ended its long-shot bid Friday to acquire it.
The Navajo Generating Station has operated for decades in northeastern Arizona near the Utah border, providing a hefty chunk of revenue to the Navajo Nation. Both the Navajo and the neighboring Hopi Tribe benefit from the Kayenta Mine, which feeds the 2,250-megawatt power plant, transporting the coal on a rail line.
Navajo leaders asked the Navajo Transitional Energy Company last year to look into acquiring the power plant and the coal mine as a way to save the revenue and hundreds of jobs held by tribal members. Negotiations with the power plant owners came to a halt recently over who ultimately would be responsible for cleanup.
The owners wanted the energy company to take on any known or unknown liabilities for the plant, but the Navajo Nation declined. With that and a decision Thursday from a Navajo Nation Council committee not to support the acquisition, the energy company called it quits.
Read more: https://tucson.com/news/state-and-regional/navajo-nation-company-ends-bid-to-buy-power-plant-mine/article_f034c98e-f30a-52d6-bcbb-a5c02e25f0da.html
