Salt River Project (SRP) has agreed to purchase part of Sempra U.S. Gas & Power's Mesquite Power natural gas fired power plant. The agreement is for one 625 MW block of Sempra's 1,250 MW Mesquite power plant for $371 million. Both sides are pleased with the arrangement. The sale will allow Sempra to reduce its exposure to the merchant power markets and redeploy capital to expand further into the natural gas sector. The purchase represents future growth for SRP despite current growth which has been slow. "We studied the market very carefully and determined that this purchase would p...