Sempra Generation, a subsidiary of Sempra Energy, has completed its purchase from Reliant Energy of Reliant’s 50 percent interest in El Dorado Energy, a 480-megawatt natural gas-fired, combined-cycle power plant in Boulder City, Nev.
Sempra Generation now owns the entire plant, according to a company spokesman.
The total transaction value for Reliant’s 50 percent interest, including project debt, is about $132 million, including a cash payment to Reliant of about $76 million.
The companies began their joined 50-50 ownership in the El Dorado Energy project in 1997. Since El Dorado Energy began operations in May 2000, Sempra Generation’s power assets have grown to more than 3,800 megawatts in Nevada, Arizona, California, Texas and Mexico, according to the company.
El Dorado Energy is about 40 miles southeast of Las Vegas and has unrestricted access to multiple power markets. In addition to providing energy to the Southwest markets, El Dorado Energy is equipped with a 100-kilowatt solar field, comprised of 256 panels that track the sun’s path through the Nevada sky.
Sempra Generation develops, acquires, operates and maintains power plants and energy infrastructure for competitive markets.
Sempra trades on the New York Stock Exchange under the symbol SRE.
Pat Broderick
