Tue, Oct. 13, 8:28 AM
- Calpine (NYSE:CPN) agrees to acquire the Granite Ridge Energy Center gas-fired power plant from Granite Ridge Holdings for $500M.
- CPN says the addition of Granite Ridge brings its New England footprint to ~2K MW of generation, making it "a meaningful supplier in one of the nation's leading wholesale power markets."
- The 745 MW power plant, is located in Londonderry, N.H., ~45 miles northwest of Boston.
Mon, Jul. 20, 10:15 AM
- Calpine (CPN +0.1%) agrees to acquire residential electricity provider Champion Energy Services from Houston Astros owner Jim Crane and his Crane Capital Group for $240M.
- CPN was one of the few top power generators without a residential retail arm, but the deal for Champion, with ~2.5M residential customers in Texas and the northeast U.S., will help it move into the sector.
Sep. 3, 2014, 10:18 AM
- Calpine (CPN -0.4%) will keep spending on acquisitions and share buybacks thanks to its ability to profit whether natural gas prices are high or low, CEO Thad Hill tells Bloomberg.
- CPN's fleet of gas power plants is concentrated in combined-cycle natural gas, putting it in a better position than peers that have a mix of coal and nuclear plants, Hill says, and allows the company to make smaller profits when gas prices are below $4/MBtu as volume increases and bigger margins when prices are above $4 as revenue increases.
- Hill says he sees potential in the the mid-Atlantic and Northeast as older plants retire and in Texas as the population and state economy gain.
Calpine Corp is a wholesale power producer. The Company owns and operates natural gas-fired and geothermal power plants in North America. It sells wholesale power, steam, capacity and ancillary services to utilities, independent electric system operators.
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