Firm eyeing purchase of Arizona's Navajo Generating Station

[Judi Lynn]

Source: Associated Press


Anita Snow, Associated Press
Updated 10:20 pm, Thursday, June 7, 2018

PHOENIX (AP) — A Chicago-based company said Thursday it is putting together a proposal to buy the coal-fueled Navajo Generating Station, a move that could forestall the plant's scheduled closure in late 2019 and save hundreds of jobs and funding for Native American tribes.

Joe Greco, senior vice president of Middle River Power, on Thursday did not disclose a possible price for the plant or provide other specifics when he addressed the board of the Central Arizona Water Conservation District. He said his company could operate the plant efficiently and economically for customers.

The future of the plant on the sprawling Navajo reservation in northern Arizona remained unclear after the announcement by Middle River Power, a portfolio company of Avenue Capital responsible for managing its power plant investments.

But the hundreds of members of the Navajo Nation and Hopi Tribe who work at the plant and the mine that supplies its coal have been heartened that their livelihoods could be saved by the only potential buyer to emerge since the utilities that own the plant announced they would close it.



Read more: https://www.chron.com/news/us/article/Firm-seeks-to-buy-Arizona-s-Navajo-Generating-12976481.php

[asiliveandbreathe]

1. Much is being discussed concerning the NGS....back in April 2018....

http://thehill.com/opinion/energy-environment/382755-saving-navajo-generating-station-is-an-impractical-mission

Board members and executives at CAP should make no mistake about the fact of the matter: Any new owner would be walking into a failing investment.

Of course, this is just someone's opinion...I am just not sure the motivation behind anyone buying the NGS....based on the opinion in the article at link....

Lot's of players at the table...and then, you have

The plant’s owners — Arizona Public Service Company, the Salt River Project, Nevada Power and Tucson Electric — are closing the plant because the power it produces is considerably more expensive than power bought and sold on the open market. (The plant is managed through a complicated arrangement: the federal Bureau of Reclamation owns a portion, too, and the generation station sits on land owned by the Navajo Nation.)

The land is owned by the Navajo Nation...is it the LAND they want...

[Brother Buzz]

2. A failing investment until the buyer got a wink and a nod from the EPA

Scrub the SO2 scrubbers and you can eke out a profit.

You know what I mean, Vern?

[dbackjon]

5. No, they don't want the land

Land will always belong to the tribe.

Only way to make profitable is to waive environmental regulations, or force users to buy at higher cost.

[asiliveandbreathe]

6. Well, that makes me feel better..this is why I ask questions...

Just don't know these days - but then I am an SRP customer..pay more??/ - How high can it go!!!

[dbackjon]

7. Yes, we would pay more.

[Igel]

3. Coal.

[progressoid]

4. This will not end well for those employees regardless.