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Potential Buyers for NGS?

Potential Buyers for NGS?
October 05
05:04 2017

NAVAJO NATION MOVES FORWARD IN FINDING POTENTIAL PURCHASERS OF NGS

WINDOW ROCK – The Navajo Nation announced today that it has identified potential qualified purchasers of the Navajo Generating Station (NGS). The Navajo Nation will conduct an extensive review of these potential purchasers to determine if a sale is feasible.

The Salt River Project and the other NGS participants gave the Nation until Oct. 1 to provide them with the names of potential qualified purchasers and the Nation met that deadline. This initial review is the first step in a lengthy, rigorous and ongoing process to determine if a sale is possible.

The Navajo Nation stressed that while the identification of potential qualified purchasers is a positive development, no decisions have been made about a final sale.

The potential decommissioning of NGS and the Kayenta Peabody mine would result in the loss of 3,100 direct and indirect Navajo jobs. Additionally, the closure would have a devastating impact on the Navajo Nation budget. Over 25 percent of the Nation’s operating budget relies on revenue from the mine and plant.

President Russell Begaye said the Navajo Nation supports the continued operation of NGS beyond 2019 and has remained engaged in all discussions regarding its long-term future and the finding of any new, potential owners.

“Because Navajo Nation coal is a tribal asset, and both the NGS plant and the Kayenta Peabody mine exist on our lands, the Navajo Nation has a vested interest in ensuring any future revenue and job retention at both the mine and plant. Thus, negotiations on part of the Navajo Nation have taken account the best interests of the tribe. The Nation will move forward in all decisions regarding NGS and the Kayenta Peabody mine being mindful of what the tribe stands to gain in areas of economic development, employment opportunities, revenue and environmental protection,” President Begaye said.

23rd Navajo Nation Speaker LoRenzo Bates emphasized that the Council has prioritized to continue and sustain energy development by maintaining the operation of Kayenta Mine and the Navajo Generating Station.

“The Kayenta Mine and the Navajo Generating Station are critical assets of the Navajo Nation, which secures significant revenues for essential governmental operation including the 110 local government chapters and services that impact Navajo elders, families, and veterans. The assets also sustain some of the Nation’s highest paying jobs, which assist many Navajo families and communities. On half of the 23rd Navajo Nation Council, it is crucial that we continue to seek ways to sustain the two operations,” Speaker Bates said.

The Nation will continue to plan and prepare for closure of NGS if a new owner cannot be secured.

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