Investments & Assets
NTEC’s purpose is to promote the development of the Navajo Nation’s resources and new sources of energy, power, transmission and attendant resources, to develop the economic, financial, social and cultural well-being of the Navajo People and the Navajo Nation.
Ownership Interest in Four Corners Power Plant
In July 2018, NTEC finalized the acquisition of seven-percent ownership interest in units four and five of the Four Corners Power Plant (FCPP). As a result of the transaction, NTEC became an owner of a coal-fired power plant, a first for a Navajo Nation enterprise. Concurrent with NTEC’s purchase of the FCPP interest, NTEC and Arizona Public Service Company (APS) also entered into an amended and restated coal supply agreement, which governs FCPP fuel purchases from NTEC. The amended and restated coal supply agreement provides NTEC with more flexibility in the sale and purchase of coal from NTEC’s Navajo Mine.
A diversified energy portfolio is a central focus for NTEC's long-term strategy. Recently, NTEC partnered with ENGIE, a global leader in low-carbon energy and service, to develop solar projects. ENGIE has over 20 GW of solar projects under development, about 1 GW of solar in operation, and 1.3 GW of solar under construction or contracted in North America.
Rare Earth Minerals
In August 2019, NTEC acquired approximately 20 percent of the outstanding shares of Texas Mineral Resources Corp. (TMRC: OTCQB). NTEC currently holds two seats on the TMRC board. This investment provides NTEC the opportunity to participate in the development of one of the most significant rare earth deposits currently identified in the United States. These minerals will be used in green energy-related technologies like solar panels, wind turbines, and modern electronics.
Access to International Markets
Through the acquisition of the Cloud Peak Energy assets in 2019, NTEC has gained greater access to the international coal market. Through our collaboration with Westshore Terminals on the Pacific Coast of British Columbia, we have the ability to mine resources and deliver those resources around the world. Westshore is North America’s premier coal terminal and the busiest single coal export terminal in all of North America.
Through our strategic partnership with BNSF Railway and Union Pacific Railroad, NTEC has greater access to national and global markets.