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15 October 2004 - Nevada Power Company announced Wednesday that it had finalised its purchase of a partially constructed power plant from Duke Energy.
The subsidiary of Sierra Pacific Resources expects the 1200 MW natural gas fired combined cycle plant located in the Moapa Valley, 20 miles northeast of Las Vegas, USA, to be fully operational by the summer of 2006.
The generating facility consists of four natural gas fired combustion turbines, two steam turbines and four heat recovery steam generators operating in combined cycle mode.
The Public Utilities Commission of Nevada approved the project, along with the financing plan, in September.
The acquisition will be completed using a $250m revolving bank facility with a three-year term that was finalised last week. Total costs to acquire and complete construction of the facility are estimated at $558m.
Nevada Power Company is a regulated public utility engaged in the distribution, transmission, generation, purchase and sale of electric energy in the southern Nevada communities of Las Vegas, North Las Vegas, Henderson, Searchlight, Laughlin and their adjoining areas in the US.
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