Peabody’s Search for Buyer for Navajo Coal Plant Stalls

first_img FacebookTwitterLinkedInEmailPrint分享Associated Press:A coal mining company looking to save the Arizona power plant it feeds from closure says it’s making progress in the search for new owners. But few details came with a deadline Sunday to identify potential buyers for the Navajo Generating Station near Page.Peabody Energy spokeswoman Beth Sutton said Monday that private equity firms and power plant operators are interested. She wouldn’t say who, how many or describe the level of interest, citing confidentiality agreements.Peabody hired investment firm Lazard Freres & Co. LLC, to aid in the search. The task now is to narrow the field and work toward definitive agreements with interested buyers by the end of March, Sutton said.It’s a tight timeframe. Contracts must be lined up for decommissioning well in advance. Lease negotiations with the Navajo Nation where the power plant is located and environmental reviews also could take years.Environmentalists say another buyer for the power plant will keep the Navajo Nation locked to coal at a time when utilities increasingly are switching to other sources of power.“We can’t assume this plant will support our economy for long, and it’s time we diversity our economy by building new clean energy projects that provide clean power, create jobs and bring new revenue to our community,” said Nicole Horseherder, of To Nizhoni Ani.The owners of the Navajo Generating Station, including the Salt River Project, voted earlier this year to shutter the 2,250-megawatt plant because energy produced by natural gas was cheaper. The lease signed with the Navajo Nation still needs approval from the federal government and a former plant owner.SRP spokesman Scott Harelson said Monday the utility received a letter from Navajo leaders acknowledging others’ interest in the plant and a commitment to move forward, but the information was little more than what the utility already knew.Both Harelson and a spokeswoman for the Navajo Nation, Meghan Cox, declined to release the letter.“It comes down to timing now,” Harelson said. “If they have serious proposals, they need to get those together and present them as soon as possible. The longer they wait, the more difficult it is.”Navajo Nation President Russell Begaye said in a statement that the tribe is committed to engaging in negotiations with potential owners.Hundreds of Navajos work at the plant and the associated mine near Kayenta. The Navajo and neighboring Hopi tribes rely heavily on revenue from coal operations.Few details after deadline for coal plant ownership interest Peabody’s Search for Buyer for Navajo Coal Plant Stallslast_img read more

NHL trade rumors: Capitals’ GM Brian MacLellan ‘talking to some teams’ about Andre Burakovsky

first_imgGeneral manager Brian MacLellan said that there is the possibility that the 24-year-old winger could be dealt this summer. MacLellan says he and the team are continuing to assess their options, especially with eight other free agents to address, including Burakovsky.”We’re still talking to some teams,” MacLellan told Sporting News in regards to shopping Burakovsky.NHL free agency rumors: Top RFAs in the Metropolitan DivisionThis past season, the Swedish forward finished with just 12 goals and 25 points in 76 games, the same exact total he managed in 20 fewer games the previous year. His career has not only been plagued by lengthy cold streaks and only flashes of potential, but he’s also experienced multiple injuries that have affected on his play.Burakovsky’s performance has led to not only a lack of confidence and being scratched from time to time, but made him the center of trade rumors, tossing his future with the team up in the air.Many expected him to be dealt at the deadline, but the Capitals kept him around. It seemed to prove well for the winger as he registered four points in five games and seemed to put a spark in his eye. However, the strong play didn’t last long as he managed just one more point until the end of the regular season.”I think Andre had a frustrating year, but he finished it up well,” MacLellan said. “There’s been some inconsistencies there, but when he’s on his game, he’s a good player.”That being said, he may not be able to stick around, especially given Washington’s cap situation. Right now, the NHL salary cap is up in the air, and Washington still has its aforementioned free agents to deal with. Additionally, the Capitals have to pay attention to their future, as star players Nicklas Backstrom and Braden Holtby will need high-paying extensions next summer.MORE: Tracking the NHL initial buyout periodMacLellan said the team has been in touch with Burakovsky’s agent and that they would “like to keep him around,” but it may not be that simple. He’s also keeping his options open and hearing out offers from other clubs, but for now, Burakovsky is here to stay unless the price is right.”We’re not going to move him unless we feel comfortable getting something back,” MacLellan said. The Washington Capitals are stuggling with cap space and have a number of free agents to address, including big names like Jakub Vrana, Brett Connolly, Brooks Orpik and perhaps most importantly, Andre Burakovsky.The 2013 first-round pick, who has struggled with inconsistency throughout his career, may be on the move heading into the offseason. One potential suggestion would be to make a one-for-one trade with the Edmonton Oilers and deal Burakovsky for Jesse Puljujarvi. The disgruntled winger​ from Sweden recently  requested a trade and is another up-and-coming player who would benefit from a change in scenery.Moving forward, Burakovsky says he would like to remain in D.C. to continue to improve his game and put his struggles behind him.”I love Washington,” Burakovsky said. “My goal is to stay and hopefully, I will be able to. It has been up and down for sure… obviously want to be more consistent and I think I learned a lot … I think I am on the right path for sure.”last_img read more