Salt River Project to buy part of Sempra natural-gas plant

Sempra U.S. Gas & Power  has entered into a definitive agreement to sell one 625 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. Each block is comprised of two gas turbines and a steam turbine. As part of the transaction, SRP also will become the operator of both Mesquite units.

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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