Calpine acquires Conectiv Energy
July - 1 - 2010 Respond
CORPUS CHRISTI Calpine Corporation (NYSE:CPN) has completed the acquisition of Conectiv Energy for $1.63 billion after adjustments. Calpine owns the Corpus Christi Energy Center. The purchase includes Conectiv’s electric generation business consisting of 19 power plants with a total generating capacity of 4,490 megawatts. It allows Calpine to establish a foothold in the mid-Atlantic states. The company will use natural gas as its primary fuel and hire about 200 former Conectiv employees.
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Tags: Conectiv Energy, Energy