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IEEFA
Associated Press: The Navajo Nation is moving forward with two more solar plants on the reservation that are expected to generate millions of dollars in revenue for the tribe over the projects’ lifetimes. Tribal leaders met at the site of the larger solar plant in Cameron on Tuesday to finalize the lease for the Cameron […]
Clark Williams-Derry
Weak demand and low prices are likely creating steep losses for NTEC
U.S. coal exports to Asia—once heralded as the saving grace for struggling coal producers in the western United States—are facing new strains from low prices and weak demand in the wake of the global COVID-19 crisis. In its third-quarter financial statement released earlier this month, Westshore Terminals in British Columbia, the primary terminal for U.S. thermal coal […]
IEEFA
Arizona Republic: Arizona Public Service is proposing to offer $144 million in help to three coal-country and tribal communities where the company eventually will close its remaining coal-burning power plants. The plan would not only provide large investments in the Navajo Nation, Hopi tribe and Joseph City area, but also includes plans to retain workers, […]
Seth Feaster and Karl Cates
Avangrid acquisition of PNM signals regional market shift to renewables; coal company in maneuver to stay in business, puts more Navajo Nation finances at risk
In announcing its merger yesterday with renewable energy giant Avangrid, PNM Resources reaffirmed its commitment to end its use of coal, stating that it would continue with the abandonment of the San Juan Generating Station in 2022, and that it was actively working to sell its 13% stake in the Four Corners Power Plant. The […]
Press Release and David Schlissel
Report: Throwing good money after bad in New Mexico
July 15, 2020 (IEEFA) — The Navajo Transitional Energy Company (NTEC) would lose at least $350 million over the next 10 years if it proceeds with a proposal to expand its stake in the ailing Four Corners power plant, concludes a report published today by the Institute for Energy Economics and Financial Analysis (IEEFA). NTEC, according […]
IEEFA
Greentech Media: Solar heavyweight sPower and local startup Navajo Power are chasing a 200-megawatt deal with Arizona utility Salt River Project, but that’s just the beginning. For decades, the massive coal-fired Navajo Generating Station powered the great cities of the Desert Southwest: Los Angeles, Phoenix, Las Vegas. Yet the Navajo Nation that hosted it contains […]
Guest Commentary: Amanda Ormond and Karl Cates
The shift away from coal should enhance rather than weaken basic services
Arizona is losing its coal industry faster than anyone ever expected, and the state’s power generation sector can and should be reinvesting heavily now in the towns, counties and communities hit hard by this sudden turn. A report we published in February shows what’s happening in the industry across greater Arizona, where electricity generation is […]
Sandy Buchanan and Karl Cates
Thousands are at risk; IEEFA initiative will support immediate bulk distribution of hand sanitizer and medical isolation tents
As the COVID-19 pandemic wrecks lives and economies around the world, few places are being hit harder than the Navajo and Hopi communities of northeastern Arizona. Thousands of households in the area have no running water, making them especially vulnerable to the spread of the new coronavirus. One immediate solution is to get hard-to-acquire hand […]
IEEFA
PV Magazine: “We believe you can go to 10 gigawatts of renewable resources” across the Navajo Nation, as coal plant retirements in the area open up transmission capacity, said Navajo Power CEO Brett Isaac, in a pv magazine interview. The Navajo Nation extends across parts of Arizona, Utah and New Mexico. Navajo Power is preparing […]
Seth Feaster
Company’s ill-advised embrace of coal faces growing challenges on all fronts
Given the economic shock enveloping the global economy, financing for coal-related projects will almost certainly become much harder. On top of that, coal use by power plants had already fallen to unprecedented levels in the first three months of 2020, as utilities across the country rushed to take advantage of ultra-low gas prices, now at […]
IEEFA U.S: NTEC acquisition of aging Four Corners coal plant would constitute ‘another expensive mistake’
Report: Throwing good money after bad in New MexicoJuly 15, 2020 (IEEFA) — The Navajo Transitional Energy Company (NTEC) would lose at least $350 million over the next 10 years if it proceeds with a proposal to expand its stake in the ailing Four Corners power plant, concludes a report published today by the Institute for Energy Economics and Financial Analysis (IEEFA). NTEC, according […]