Nevada's dominant electric utility says it plans to acquire and improve a gas-fired power plant in Arizona to meet energy demands in coming years.
NV Energy disclosed the planned $75.6 million purchase price and $21 million investment budget for Calpine's South Point Energy Center in a July 7 filing to the Nevada Public Utilities Commission.
The Las Vegas Sun reports the deal will also require approval from the Federal Energy Regulatory Commission.
The more than 1,000-page filing with state regulators outlines forecasts for NV Energy's Northern Nevada operations, which are conducted through its subsidiary, Sierra Pacific Power Co.
It says buying the plant in Mohave Valley, Arizona, would help provide NV Energy with new electricity as a natural gas contract ends and a coal plant goes offline.