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Navajo Energy Company In Talks Over Coal-Fired Power Plant

AP, file

Negotiations between New Mexico's largest electric utility and the Navajo Transitional Energy Co. could determine whether the tribe acquires a stake in one of the Southwest's few remaining coal-fired power plants.

Public Service Co. of New Mexico officials say the negotiations over the Four Corners Power Plant are in their final stages. The New Mexico utility would be able to divest itself from the plant as early as 2024 and the Navajo company would get up to $75 million for exiting early. New Mexico regulators must approve any deal between the tribal company and the utility.

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