Constellation Completes Acquisition of Calpine; Groups Have 55 GW of Generation Capacity
Key Takeaway
The Constellation-Calpine merger creates the nation's largest and most diversified power generator, significantly reshaping the competitive landscape for developers and large power consumers.
AI Summary
- •Constellation completed its $26.6 billion acquisition of Calpine, creating the nation's largest electricity producer with a combined 55 GW of generation capacity.
- •The merger integrates Constellation's nuclear power fleet with Calpine's natural gas-fired and geothermal assets, resulting in a highly diversified generation portfolio.
- •This M&A event signifies increased market concentration and creates a formidable, diversified player for developers seeking PPA off-takers or competing for new projects, and for large loads seeking stable, diversified supply.
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Major U.S. utility Constellation said it has completed its acquisition of Calpine Corp. from Energy Capital Partners (ECP), creating the nation’s largest producer of electricity. The companies on January 7 noted that the transaction, first announced as a $16.4-billion deal a year ago, unites Constellation’s nuclear power fleet with Calpine’s natural gas-fired and geothermal generation. The cash-and-stock deal, when including debt, has a total value of $26.6 billion. The post Constellation Completes Acquisition of Calpine; Groups Have 55 GW of Generation Capacity appeared first on POWER Magazine .