Middle River Power drops bid for Navajo Generating Station:
- As you may remember the private equity firm Middle River Power (MRP) and its affiliated investment firm, Avenue Capital, were considering purchasing and operating the Navajo Generating Station.
- Last week Bloomberg Environment first reported that MRP decided to drop its bid for the plant citing “recent developments” in Arizona and California.
- The plant is slated to close in December 2019 unless other owners/operators emerge. According to Bloomberg, it is unlikely that a new buyer will come forward. Other possibilities include: a power plant bailout by the Trump Administration; purchase of the plant by the Navajo Nation; or purchase of the plant by Peabody Coal.
AriSEIA thanks Ellen Zuckerman from SWEEP for sharing her report!