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SRP buys piece of power plant for $371M

December 26, 2012

Salt River Project has agreed to spend $371 million to purchase part of the Mesquite Generating Station natural-gas fired power plant 40 miles west of Phoenix. San Diego-based Sempra U.S. Gas and Power owns the plant, which has two 625-megawatt gas power blocks. SRP would operate the entire plant under the terms of the deal, which is subject to regulatory approval.

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