Canadian firm sells Coolidge power plant to Denver buyer

In this file photo, TransCanada CEO Russ Girling, left, holds a valve on the newly completed southern extension of the Keystone Pipeline System in Texas. TransCanada just sold an Arizona power plant.

 

By Tim Gallen |Phoenix Business Journal

A Canadian energy firm has decided to unload a power plant in Arizona, according to the Financial Post.

TransCanada Corp. has inked a deal to sell the Coolidge Generating Station to a subsidiary of Denver-based Southwest Generation Operating Co. LLC for $465 million.

The move is part of a plan to help fund Calgary-based TransCanada’s (NYSE: TRP) capital spending program, according to the Post.

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