FARMINGTON — A company working with the city of Farmington to acquire a 95 percent ownership stake in the San Juan Generating Station is hailing a recently released engineering report that touts the affordability of a plan to employ carbon capture and storage technology to keep the plant operating.
Enchant Energy Corporation officials posted a link to the report on the company website and issued a press release about it on July 8, with CEO Jason Selch touting its findings. The Sargent & Lundy report was released June 27 and estimates the cost of CO2 capture at between $39 and $43 per metric ton — figures that it claims are significantly lower than a previous carbon capture retrofit at a Texas facility.
“The results of this study are a significant milestone towards successful implementation of our project and the numerous positive benefits that we envision will follow,” he stated. “This project will demonstrate that it is possible to comply with stringent CO2 emissions standards for electricity generation using carbon capture utilization and storage technology while providing high-paying jobs and maintaining state and local taxes that are so vital to the northwest region of New Mexico.”
The Enchant Energy press release says the cost estimates cited in the S&L report mean that the estimated $1.3 billion cost to retrofit the San Juan Generating Station can be financed entirely with federal tax credits and will not require additional operating costs at the facility.