Arizona Public Service Co. on July 6 closed itsacquisition ofEl Paso Electric Co.'s7% interest in FourCorners units 4 and 5, according to a Form 8-K filed July 7.
Prior to the transaction's close, APS transferred itsacquired right, title and interest in the facility to its affiliate, 4CAcquisition LLC, or 4CA.
El Paso Electric was paid $4.2 million in cash for thetransaction, subject to post-closing adjustments. After the transaction, whichwas approved by FERCin December 2015, El Paso Electric no longer owns any coal-fired generation.
The 7% stake in the Four Corners plant represents roughly108 MW of capacity. According to SNL Energy data, the coal-fired plant has acurrent operating capacity of 1,540 MW.