Friday, December 15, 2017

USA, California: Takeover of Calpine to be Completed First Quarter of 2018

Calpine Corporation Stockholders Approve Acquisition by Investor Consortium Led by Energy Capital Partners (News Release)

Deal includes 634 MW generation at The Geysers geothermal field

Calpine Corporation, America’s largest generator of electricity from natural gas and geothermal resources, today announced that its stockholders approved the acquisition of Calpine by Energy Capital Partners along with a consortium of investors led by Access Industries and Canada Pension Plan Investment Board for $15.25 per share in cash.

Holders of a majority of the outstanding shares of Calpine’s common stock voted in favor of adopting the merger agreement. The final voting results for all proposals will be filed with the Securities and Exchange Commission in a Current Report on Form 8-K.

The acquisition is expected to be completed during the first quarter of calendar year 2018, subject to satisfaction of the remaining customary closing conditions, including receipt of certain regulatory approvals.

Calpine operates 13 geothermal power plants at The Geysers, north of San Francisco, California, generating 634.1 net megawatts

From the Global Geothermal News archives: