Edison Unit Sells Plants
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IRVINE — Edison Mission Energy said Wednesday that it has completed the $70-million sale of its 50% stake in four geothermal facilities to CalEnergy Co. Inc. of Omaha.
Under terms of the agreement, CalEnergy purchased the Vulcan, Hoch, Leathers and Elmore power plants in the Imperial Valley.
Geothermal plants use hot water taken from the ground to produce steam, which is forced through turbines to produce energy.
CalEnergy, which previously owned 50% of the units, operates the plants and sells power to Southern California Edison Co. Edison Mission Energy is a subsidiary of Edison International, which also owns Southern California Edison.
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