Attorney: NTEC still studying possible NGS takeover
Bernard Masters, general counsel for Navajo Transitional Energy Company, assured members of the Navajo Nation Council at a work session last Wednesday that if it isn’t feasible for NTEC to take over Navajo Generating Station then they wouldn’t proceed.
Masters said after then-Speaker LoRenzo Bates and then-President Russell Begaye asked if NTEC could take over NGS, the company looked into the possibility.
Although Bates may have been all for the idea of the takeover, current Speaker Seth Damon has come out in favor of renewable energy.
“When they asked us to analyze potential acquisition our management committee tasked us to answer two questions,” said Masters. “Was it even feasible? If a deal was feasible did it make sense? Obviously, if any of these answers was ‘No,’ then that would’ve been the end to the process for us.”
Masters explained that NTEC has proven itself by acquiring Navajo Mine, which he stated is now a profitable and award-winning enterprise. He also noted the success of acquiring an ownership interest in the Four Corners Power Plant and selling energy on the regional market.