Sempra Energy's US Gas & Power to Sell 625 MW Block of Arizona Power Plant to Salt River Project
Sempra U.S. Gas & Power today announced it has entered into a definitive agreement to sell one 625-megawatt (MW) block of its 1,250 MW Mesquite Power natural gas-fired power plant to the Salt River Project (SRP) Agricultural Improvement and Power District for $371 million.
The SRP Board of Directors approved a management proposal to acquire 100 percent ownership of the 625 MW block and a 50-percent undivided interest in the infrastructure facilities shared by the two blocks at their November meeting. The agreement is subject to approvals from the Federal Energy Regulatory Commission and other regulatory agencies. The companies anticipate receiving these approvals in the first quarter of 2013.
© 2016 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.