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.
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