A. The authority shall bargain for, take and receive, in its own name on behalf of this state, electric power developed from the waters of the main stream of the Colorado river by the state or the United States or any agencies thereof which by provisions of state or United States law, agreement or regulation may be made available, allotted or allocated to this state in its sovereign capacity.

B. The authority shall encourage activities deemed by it to be feasible for the production or storage of electric power or energy from solar energy, nuclear energy or geothermal energy, and may bargain for, take and receive such energy or the electrical power generated therefrom in its own name on behalf of this state.

C. For the purpose of making such power available to marketing areas of this state, the authority may acquire or construct and operate electric transmission systems, standby or auxiliary plants and facilities and generate, store, produce, sell at wholesale, transmit and deliver such electric power to qualified purchasers, and if conducive to efficiency and convenience, may enter into agreements for interconnection or pooling with projects, plants, systems or facilities of other distributors of electric power. The authority shall not by definitive contract or agreement obligate or bind itself to take or purchase power from any source until it has previously or simultaneously procured purchasers therefor.

D. All rights of persons and operating units under contracts existing on March 27, 1944, or any renewals thereof or supplements thereto, with the United States or any agency thereof, to power generated, or that may be developed or generated, at Parker dam or at any other point below Hoover Dam on the main stream of the Colorado river are preserved, and such rights shall not be impaired or modified by any provisions or powers granted by this chapter.

E. In addition to the power provided for under subsections A, B, C and D of this section, the authority may purchase, transmit or deliver for this state, or any person or operating unit, power generated or produced from projects or works owned or operated by the United States or any agency thereof, or any state, person or operating unit, and for the purpose of delivering such power to available marketing areas the authority shall have the powers provided for by subsections A, B, C and D of this section. A person or operating unit in this state shall not become a purchaser of electrical power under this subsection unless a power purchase certificate is obtained as provided in article 3 of this chapter.