BY ASSOCIATED PRESS
Published: Friday, August 16th, 2019 at 3:08pm
Updated: Friday, August 16th, 2019 at 4:48pm
FARMINGTON, N.M. — Farmington city officials on Friday signed an agreement with a company that proposes outfitting the coal-fired San Juan Generating Station with carbon-capture technology in an effort to extend the power plant’s life beyond its planned closure in 2022.
Under the agreement, the city would keep its 5% share in the plant and Enchant Energy Corp. would acquire a 95% ownership interest from other utilities that will be divesting in the plant.
Public Service Co. of New Mexico plans to shut down the facility as it moves toward a 2040 emissions-free goal and the state begins implementing a new energy law aimed at transitioning to more renewable resources. The utility’s decommissioning application is pending before state regulators along with proposals for replacing the lost capacity once the plant closes.