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Duke sells part-built power plant to Nevada Power

Nevada Power will finance the purchase through a combination of a $250 million three-year revolving loan, long-term debt and internally generated funds. The total cost of acquiring and completing the facility will be $558 million, said the company, which is a subsidiary of Nevada-based Sierra Pacific Resources.

The merchant natural gas-fired plant – in the Moapa Valley, near Las Vegas – should be fully operational by summer 2006, said Nevada Power.

Fred Fowler, president and chief operating