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Nevada Power Company said it reached an agreement with Reliant Energy Inc. to acquire Reliant's Bighorn Generating Station, a 598 MW natural gas-fired, combined-cycle power plant located in Nevada.

According to the agreement, Nevada Power, a unit of Sierra Pacific Resources, will pay approximately $500 million for the plant plus related inventory.

Commissioned in 2004, Bighorn, which approximately 35 miles south of Las Vegas, utilizes "dry-cooling" technology.

The companies expect the sale to be completed later this year following required approvals by the Public Utilities Commission of Nevada, the Federal Energy Regulatory Commission and Hart-Scott-Rodino review.

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