|
|
Article: Sierra Pacific Resources Agrees to Sell Southern Nevada Power Plant.
- Article from:
- PR Newswire
- Article date:
- December 5, 2000
CopyrightCOPYRIGHT 2000 PR Newswire Association LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
|
RENO, Nev., Dec. 4 /PRNewswire/ --
Sierra Pacific Resources (NYSE: SRP), parent company of Nevada Power Company and Sierra Pacific Power Company, announced today that Nevada Power Company has agreed to sell its Harry Allen Power Station to Pinnacle West Energy, a subsidiary of Pinnacle West Capital Corporation (NYSE: PNW).
The sale price of the generating plant was $69.81 million, subject to taxes and other adjustments at closing.
In conjunction with the purchase, Nevada Power Company negotiated the right to buy energy and ancillary services from Pinnacle West Energy for agreed upon prices at a cost of approximately $4.61 million based on the ...