Calpine (CPN) closed on a previously announced power plant sale in the last few days. The sale was a small one, and was not a full merchant (uncontracted) facility, but was a 50% interest in a cogeneration power plant in Pennsylvania.
CPN announced the close of the sale (Rueters story; CPN Press Release) on July 11th.
CPN received $37 million for its 50% interest in the 175 MW cogeneration power plant, or about $425/KW. CPN also will record approximately a $20 million after tax loss. This indicates CPN received about 60% of its investment in the plant through this sale.
