The potential investors of a coal-fired power plant in northern Arizona have been identified as a New York-based firm that focuses on distressed companies and one of its subsidiaries in the utility business.

Officials from the Navajo Nation and the Salt River Project (SRP) report that negotiations for a replacement lease that would allow the Navajo Generating Station (NGS) to continue operating through the end of 2019, have been productive and that considerable progress has been made.