The bankruptcy court for Sundevil Power Holdings LLC, a company that owns two of the four power blocks at the Gila River Power Station, on Aug. 23 approved an Asset Purchase and Sale Agreement for those two units.
One power block is to be sold to CXA Sundevil Power I Inc. and the other to CXA Sundevil Power II Inc., each a designee of the successful bidder for the units. CXA Sundevil Holdco Inc. owns 100% of the equity interests of each of these purchasing companies.
On Feb. 11, Sundevil and related companies filed voluntary petitions for relief under chapter 11 of the Bankruptcy Code. It owns 100% of Power Block 1 and Power Block 2 and a 50% undivided interest in the Common Facilities and Common Property at the Gila River plant.
A contact for the buyer is: CXA Sundevil Power I Inc./CXA Sundevil Power II Inc. c/o CLMG Corp., 7195 Dallas Parkway, Plano, TX 75024, Attn: James Erwin, Facsimile No.: (469) 467-5550, email@example.com.
Sundevil owns two of the four 550-MW natural gas-fired power blocks of the Gila River Power Station located in Gila Bend, Arizona. Sundevil and the other power block owners sell energy into the Southwest electric power market, specifically the sub-region of Arizona, New Mexico, and Southern Nevada known as the Desert Southwest. Most of Sundevil’s output is sold at the Palo Verde hub and into the California Independent System Operator market. Sundevil also is capable of reaching other market hubs such as Mead (Southern Nevada) and Four Corners.
- Tucson Electric Power and UNS Electric collectively own 100% of Power Block 3, and a 25% undivided interest in the Common Facilities and Common Property; and
- Gila River Power LLC, part of Entegra Power, owns 100% of Power Block 4, and a 25% undivided interest in the Common Facilities and Common Property.