April 19, 2024 4:02 am
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Central Arizona Project asks to refinance its debt

cap-canal-aerial04By Tony Davis | Arizona Daily Star

The Central Arizona Project carries Colorado River water to desert cities, tribes and industries in Arizona.

The $4 billion Central Arizona Project, a product of federal largesse from the start, is seeking another governmental helping hand.

The CAP wants its debt refinanced at a lower interest rate and a delayed payback schedule because one of its key revenue sources — electric power revenue from the Navajo Generation Station — has crashed in recent years along with energy prices.

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