Craig A. Moyer

Moyer represented the Navajo Nation in the acquisition of the Navajo Mine from BHP Navajo Coal Co.

The mine supplies coal to the Four Corners Power Plant in New Mexico.

"It was a very complicated transaction, given the number of parties and transactions involved," he said. "There were a lot of regulatory matters that came up."

Among those, the plant participants had to commit to reducing coal emissions, Moyer said, adding, "The commitment was made and now must be implemented by 2018."

Meanwhile, Southern California Edison, which is not allowed to use coal in California, had to divest its interest in the power plant.

Added to the complexity, Moyer said, was that the deal would impact customers in both New Mexico and Arizona.

At the time, Arizona's public utilities commission was considering the possibility of deregulation.

"The lack of clarity meant that the participants in the power plant were not willing to proceed and commit to a long-term agreement," Moyer said. "We had to jump in. We didn't want this to drag on and kill the deal. We had to get regulatory certainty, such as it is."

The Arizona agency decided to put its deregulation plans on hold and the deal moved forward.

Ultimately, the transaction provided the Navaho Nation with control over its resources, Moyer said, and protected jobs.

Without the deal, the Nation stood to lose nearly $100 million a year in royalties and revenues, and more than 800 jobs at the mine and the plant, he added.

According to Moyer, the mine will generate more than $4 billion in revenues over the life of the project.

Ten percent of the profits from coal sales will be used to fund research and the development of alternative energy sources, including renewable energy.

"The Nation wants to move to a clean-energy future," Moyer said, "and this is a bridge to that future by providing the revenues to pay for it."

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