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Southern California Edison has sold its stakes in the largest U.S. nuclear plant and a coal-fired plant in New Mexico to Pinnacle West Capital Corp., owner of Arizona’s largest utility, for $550 million. Pinnacle West will buy Edison’s 16% stake in Arizona’s Palo Verde nuclear plant, the largest power generator of any kind in the U.S. It also will buy a 48% stake in two units of the Four Corners coal-fired plant near Farmington, N.M.
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