LAS VEGAS (AP) -- Nevada Power Co., a subsidiary of Sierra Pacific Resources, said Tuesday it will buy Reliant Energy Inc.'s Bighorn Generating Station for about $500 million.
The 598-megawatt natural gas-fired, combined-cycle power plant is located about 35 miles south of Las Vegas.
The companies said they expect the deal to close later this year, following required state and federal regulatory approvals.
Goldman, Sachs & Co. is serving as Nevada Power's financial adviser, while JPMorgan Securities Inc. is serving as Reliant's.
Sierra Pacific shares fell 6 cents to $12.82 in aftermarket trading, after falling 8 cents to $12.88 in the regular session. Reliant shares rose 7 cents to $26.89 in late trading, after falling 37 cents to $26.82 in the regular session.
