One dollar. That’s how much an aging New Mexico coal plant is worth. And by some estimates, even that may be too much.
Acme Equities, a New York-based holding company, is in talks to buy the 847-MW San Juan Generating Station for $1, after four of its five owners decided to shut it down. The fifth owner, the nearby city of Farmington, says it’s pursuing the bargain-basement deal with Acme to avoid losing about 1 600 direct and indirect jobs in the area.