Texas Mineral Resources Corp (TMRC)

[aore]

NTEC Takes Next Step in Renewable Portfolio, Submits Proposal for
Solar Array at Navajo Mine
Farmington, NM—June 17, 2020— Navajo Transitional Energy Company
(NTEC) is pleased to announce that the company has partnered with Photosol
US (Photosol) establishing the next step toward building a renewable energy
portfolio on the Navajo Nation. Today, the companies submitted a proposal to
site 200 MW, of a 400 MW, solar array on reclaimed Navajo Mine land.
If accepted, the project could generate up to $20 million in tax revenues for the
Navajo Nation over 40 years. “Including solar and other renewable energy
sources in NTEC’s portfolio has always been part of our vision for NTEC and the
Nation,” said Chairman Timothy McLaughlin. “We are excited for the
opportunity to transition the reclaimed land at Navajo Mine to the production of
renewable energy that has the potential to provide long-term revenues for the
Nation.”
The solar proposal is a response to Arizona electric utility Salt River Project’s
request for proposals to site and supply a total of 400 MW of solar power.
NTEC is partnering with Photosol, a world leader in renewable energy storage
solutions, with decades of expertise in solar development. Photosol currently
has over 382 MW of solar plants in operation and construction along with an
over 7,500 MW project pipeline.
The solar proposal builds upon NTEC’s commitment to conscientious energy
development. Last year the company invested in Texas Mineral Resources, a
company which is developing innovative extraction methods for rare earth
minerals and metals, that are key component of solar panels and the batteries
necessary to store solar energy and power electric vehicles.
McLaughlin said, “It is very exciting to play a role in developing two of the key
components to a viable solar powered future—the minerals and metals
necessary for the infrastructure and the solar array that will generate the power
on Navajo land.”