NTEC Ceases NGS Acquisition

Just after 11 this morning, NTEC announced that they have discontinued their efforts to acquire the Navajo Generating Station and Kayenta Mine following a decision by the 24th Navajo Nation Council’s Naabik’iyati’ Committee.

According to the press release, negotiations broke down due to the current owners of NGS requesting they be released from liability for the decommissioning of the plant upon completion of the sale of the mine and NGS. In light of the break down, and the demands of the current owners, the Committee voted yesterday 11 to 9 to end the operations of NGS and the Kayenta mine at the end of this year.

Due to the Committee’s decision to cease operations, NTEC has been forced to stop all acquisition efforts.

At the request of the Navajo Nation’s 23rd Council, NTEC assessed the opportunity to acquire both NGS and the Kayenta Mine.

“We wish to thank the Navajo Nation leadership for requesting NTEC’s assessment of this important acquisition opportunity. We recognize the decision of the 24th Council to allow NGS and Kayenta to close at the end of this year. We also appreciate the considerable support NTEC has received from the Navajo community during this process” the statement reads.

NTEC states in their release that despite this vote, they will continue to pursue energy opportunities for the Navajo Nation. NTEC also acknowledge the workers at NGS and the Kayenta Mine, and the uncertainty each employee faces. They announced that they will be hosting a job fair at the Kayenta mine for job opportunities available at Navajo Mine, however, the company did not state when that job fair will take place.

Click Here for the official NTEC press release.

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