ENERGY
From Times Staff and Wire Reports
Magma Power Buys Unocal Geothermal Assets: Magma Power Co. of San Diego has completed its purchase of Unocal Corp.’s geothermal assets in Imperial County, acquiring three power plants plus lease holdings of 40,600 net acres with potential reserves of more than 1,000 megawatts. Magma Power purchased the assets from Los Angeles-based Unocal for $225 million, plus up to $15 million in further payments based on possible development of new power-generating capacity.
