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Gold/Mining/Energy : Canadian REITS, Trusts & Dividend Stocks

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To: bill who wrote (4189)	9/13/2002 4:44:54 PM
From: Scott Mc	of 11633

Related to power comments earlier... TransCanada to Buy El Paso Power Plant for $127 Mln Calgary: TransCanada PipeLines Ltd., the nation's biggest pipeline company, agreed to buy a Colorado power plant from El Paso Corp. for $127 million in cash to boost generation by 13 percent. The capacity of the 300-megawatt ManChief gas-fired plant in Brush, Colorado, 90 miles (145 kilometers) northeast of Denver, is under contract through 2012 to Xcel Energy Inc.'s utility in the state, TransCanada spokesman Glenn Herchak said. A megawatt can power 800 average U.S. homes. The sale of the two-year-old plant is expected to close in the fourth quarter, boosting TransCanada's power capacity to 2,550 megawatts. The Calgary-based company intends to buy more power plants in the U.S. and Canada, Chief Executive Officer Hal Kvisle said in a statement. Houston-based El Paso, the biggest U.S. pipeline company, is selling $2.25 billion in assets to trim debt and has slashed its energy-trading business following the collapse of Enron Corp. Chief Executive William Wise put $2 billion in off-balance-sheet debt on the books in December after raising the cash through partnerships similar to those used by Enron.

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