Navajo energy company invests in carbon capture effort
Navajo Transitional Energy Company has invested in another energy company that is aiming to develop a large-scale platform for carbon capture services.
The Farmington Daily Times reports that the deal puts NTEC on Enchant Energy Corp.'s board of directors.
Enchant Energy wants to take over the coal-fired San Juan Generating Station in northwestern New Mexico later this year after it is abandoned by New Mexico's largest electric utility.
But critics have raised concerns about financing and the ability to make carbon capture technology work at the decades-old plant.
The Navajo company's investment in Enchant Energy is being criticized by environmentalists.