Register | Forgot Your Password? | Close

Salt River Project has agreed to purchase a natural gas power plant located about 40 miles west of Phoenix, the utility company said in a release.

"We studied the market very carefully and determined that this purchase would provide an economic benefit to SRP and its customers," said SRP general manager Mark Bonsall, adding that the purchase allows the company to plan for expected substantial growth.

SRP will pay $371 million for the 625-megawatt plant, located in Arlington, Ariz., that was formerly owned by U.S. Gas & Power of San Diego. It plans to hire the existing staff.

The deal is subject to approval by the Federal Energy Regulatory Commission and the U.S. Department of Energy, expected in 2013.

KTAR.com,

share this story:
Attention KTAR.com Comment Users: We have recently changed our comments boards.
We would like you to be part of the conversation and The Voice of Arizona by logging in with your Facebook, Twitter, Google+ or Disqus account. Existing KTAR (Arizona Sports) account members will need to create a Disqus account or use one of the aforementioned social media logins. Thank you.
comments powered by Disqus

World Class Arizona

  • Dignity Health

    World Class People. World Class Company. Excellent care, delivered with compassion, for all in need.

Voice For A Better Arizona

  • Family in Focus

    KTAR spends the week taking a look at the issues a modern Arizona family faces.