Calpine to sell Florida facility to Duke Power, but details still not final

|About: Calpine Corporation (CPN)|By:, SA News Editor

Calpine (NYSE:CPN) says it has agreed in principle to sell a Florida power plant to Duke Energy (NYSE:DUK) but the companies could take at least another month to finalize the terms of the deal.

CPN says the companies took the unusual step of announcing the deal for the Osprey Energy natural gas-fired plant near Tampa all the details were settled because DUK withdrew its request to the state of Florida for permission to build its own new peaker unit and had to explain why.

UBS analysts predict a price for Osprey at $120M-$180M.