hascompleted its acquisition of 50.5% undivided interest in thecoal-fired Springerville unit 1 facility in Apache County, Ariz.,according to a Sept. 22 Form 8-K filing.
The companypaid $85 million in the transaction and received $12.5 million for previouslyunreimbursed operating costs of the facility.
TucsonElectric agreed topurchase the remaining interest it didn't own to settle and release assertedclaims related to the facility. At deal close on Sept. 16, the subsidiary became the soleowner of the facility and all outstanding and pending litigation andarbitration proceedings between Tucson Electric and the third-party owners weredismissed with prejudice.
Springervilleunit 1 started operating in June 1985 and has a nameplate capacity of 424.8 MW,according to S&P Global Market Intelligence data. Tucson Electric also ownsa second unit of the same size at the Springerville site, and two other newerunits are owned by other utilities.
FERCconditionally approvedthe transaction on Sept. 12.