Skip to main content

TransCanada Corp. has signed a deal to sell its Coolidge Generating Station in Arizona to a subsidiary of Southwest Generation Operating Co. LLC for $623-million.

TransCanada chief executive Russ Girling says the sale, worth US$465-million, is part of a plan to help fund the company’s capital spending program.

The 575-megawatt natural gas-fired power in Coolidge, Ariz., is underpinned by a long-term power purchase agreement.

Under the terms of the agreement, Salt River Project Agricultural Improvement and Power District has a right of first refusal on a sale to a third party.

TransCanada owns and operates pipelines across North America, as well as power generation assets including a stake in the Bruce Power nuclear power plant in Ontario.

Report an error

Tickers mentioned in this story

Your Globe

Build your personal news feed

Follow topics related to this article:

Check Following for new articles

Interact with The Globe