Enchant Energy is a New Mexico company that seeks to capture CO2 for sequestration purposes and electricity production by investing in state-of-the-art environmental technology at San Juan Generating Station. These activities are intentionally designed to further New Mexico’s dual goals of substantially reducing its statewide CO2 output, and supporting New Mexico’s economy by employing hundreds of people in San Juan County and on the Navajo Nation by providing reliable, low-cost wholesale electricity.
The founders of Enchant Energy, Larry Heller and Jason Selch, have been investing in large energy projects for over 30 years and together are responsible for over $5 billion in cumulative investments. To support its leading-edge environmental investment in San Juan Generating Station, Enchant Energy is working with a set of world-class engineering and consulting firms, including:
- Sargent & Lundy
- Navigant Consulting
- EFM Consulting
- Sidley Austin LLP
- Tenaska Power Services Company
- Wanger Institute for Sustainable Energy Research (WISER) at the Illinois Institute of Technology
Why this Project is Important
New Mexico has, through its legislative and regulatory initiatives, positioned itself as a national leader in environmental energy policy. The principals and investors of Enchant Energy wholeheartedly affirm these initiatives!
The Enchant team and the City of Farmington are excited to advance the State’s goals with the proposed CO2 sequestration project at the San Juan Generating Station. It’s a rare opportunity to support such an environmentally friendly policy while simultaneously preserving hundreds of well-paid jobs that are simply not otherwise available to the residents of San Juan County and the Navajo Nation. A true win-win.
Enchant Energy Corporation
Enchant Energy is a New Mexico-registered company that is acquiring the San Juan Generating Station near Farmington, New Mexico. Enchant plans to retrofit SJGS with state-of-the-art carbon capture equipment that, when completed in 2023-2024, will transform the facility into the lowest emissions fossil fuel plant in the Western United States.
Lawrence A. Heller – Chairman of the Board
Lawrence (Larry) is Chairman of the Board of Enchant Energy Corporation. He has been a professional investor for over 30 years. His focus has been the energy, power and commodity sectors. Larry started his business career in 1984 as a consultant to Island Creek Coal, then one of America’s largest coal operators. Following business school, he joined Bankers Trust Company in its energy finance and distressed debt investment departments. A large component of his investment activity at this time involved capitalizing on the recent deregulation of the interstate pipeline industry. Larry went on to be a portfolio manager at Odyssey Partners, L.P., where his duties included managing a portfolio of securities of public utilities. Larry then founded two hedge funds, Quadrangle Partners, L.P. and Helios Advisors, LLC, where he specialized in distressed investments – most of which were in the energy sector – and trading of derivative contracts across the energy, power and precious metals markets. As chairman of the creditor’s committee of Kenetech, Inc., he oversaw the development of the EcoElectrica project, a pioneering $670 million LNG to power project in Puerto Rico. From 2015 to 2018 he ran the distressed investment strategy for Amtrust Financial Services, Inc. He received his AB in Political Science and MBA in Finance and Accounting from The University of Chicago.
Jason Selch – Chief Executive Officer
Jason Selch is CEO of Enchant Energy Corporation. Jason has been a professional investor in the energy industry for over 25 years. His experience includes work as the Global Energy Analyst for the Acorn Family of Mutual Funds, Director of Energy Research for Amtrust Financial, Managing Director for EGI Investments, and Portfolio Manager of the Iroquois and Helios Energy Funds. Additionally, Jason has served as a Director and Chairman of the Audit Committee of Kuwait Energy PLC and a Director of MB Financial Bank, N.A. He received both his BA in Economics and MBA in Finance and Accounting from The University of Chicago.
Peter Mandelstam – Chief Operating Officer
Peter Mandelstam is COO of Enchant Energy. Peter has 28 years as an entrepreneurial renewable energy developer and policy advocate. His experience includes CEO and Executive Director positions for four land & offshore wind development companies and two solar non-profit installation, workforce training, and policy organizations. Career accomplishments, capabilities and experience include:
- Winner & Signer of 474 MW of competitively bid on land, wind, and offshore wind Power Purchase Agreements (PPA), totaling more than $6 Billion in guaranteed revenue.
- Advocate for multiple, successful legislative and regulatory solar and wind policy efforts in DE, NY, NJ, MD, and CT.
- Developed Montana’s first utility-scale wind farm at Judith Gap, operational since 2005. Won 181 MW; 135 MW built.
- Developer & Installer of 40+ solar power projects, on and off-grid, single- and multi-family low- and moderate-income residential.
- Work includes successful start-ups, leadership roles, management consulting, financial modeling, State and Federal wind and solar energy program design and advocacy, and for-profit and non-profit strategic planning.
- Extensive communications experience in print, radio, and TV appearances.
- Skills include renewables deal origination, successful legislative advocacy, policy analysis and formation, project development, successful capital raises, deep project management experience, construction logistics, and expertise in solar and wind finance.
- Wind and solar management include leading highly diverse, multi-disciplinary teams, in project development, solar and wind resource assessment, PPA negotiations (including first US offshore wind PPA), EPC drafting and negotiating, permitting / environmental analysis, finance, legal structuring, construction, and interconnection.
- Expertise in stakeholder outreach and education that have been featured in The New York Times, with those techniques studied at Yale and the University of Delaware.
- Implementation of Equity, Inclusion, and Diversity staffing program.
- Only person in U.S. history to have negotiated and signed PPAs in solar, on land, wind, and also offshore wind.
- Served on 8 Boards of Directors, including American Wind Energy Association (2000-2014), and League of Conservation Voters (2009-2015).
- Graduate of Harvard College, A.B. Class of 1983. Field of Concentration: Government.