Navajo-Owned Energy Company Commemorates the Success of its First 10 Years and Exceptional Growth of Operations Since Formation
Farmington, NM – May 3, 2023 – Navajo Transitional Energy Company (NTEC) today celebrated its tenth year of successful operations since its formation on May 3, 2013. NTEC was established by President Ben Shelly and leaders of the 22nd Navajo Nation Council in an innovative exercise of sovereignty to assert control over the Navajo Nation’s abundant natural resources. The immediate goal was to prevent the devastating impact to the Nation of potential closures of the Navajo Mine and Four Corners Power Plant. NTEC rapidly accomplished this objective through the purchase of the Navajo Mine in 2013.
NTEC has grown exponentially since then with the acquisition of a seven percent stake in Four Corners Power Plant in 2018 and the purchase of three mines in Montana and Wyoming in 2019. In its first ten years, the company grew from ten employees to 1,300 and expanded operations to four states with national and international sales. Through royalties, taxes, wages, and community programs, NTEC contributed more than $121 million to the Navajo Nation in 2022 and provides more than 30% of the Navajo Nation’s annual General Fund.
“We are incredibly proud of NTEC and the work it does to provide economic and social opportunities otherwise not available to the Navajo people. For the past 10 years, we have fulfilled the company’s founding goal of promoting the development of the Navajo Nation’s resources to ensure the economic, financial, social, and cultural well-being of the Navajo People and the Navajo Nation,” said Vern Lund, Chief Executive Officer for NTEC. “We are committed to continuing this mission through a focus on safe and clean energy practices, while exploring renewable options that position the Navajo Nation for future success.”
The celebrations took place today at the Navajo Mine, which is itself marking 60 years of successful operations! NTEC thanks the Council Delegates and local Chapter Representatives for helping us celebrate the event – ahéhee’.