Calpine acquires 745 MW New Hampshire gas power plant

• 8 years ago (2015-10-14)

North America 1004

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The deal increases the Houston-based company’s expansive array of gas-fired power plants, as natural gas continues to gain ground on coal-fired plants. Granite Ridge, located 45 miles northwest of Boston, features two Siemens 501G combustion turbines, two heat recovery steam generators and one steam turbine.

Thad Hill, Calpine president and CEO, said: “... With the addition of Granite Ridge, our footprint in New England will comprise approximately 2000 MW of reliable and environmentally responsible generation resources, making us a meaningful supplier in one of the nation’s leading wholesale power markets.”

Although it is still subject to a number of approvals, Calpine hopes to close the deal by the first quarter of 2016.

This deal itself comes just after the company acquired a 75 per cent stake in Champion Energy for $240 million, which Calpine hopes will complement its operations in Texas, Mid-Atlantic and North-eastern US power markets.

Commenting on the latter deal, Trey Greggs, Calpine executive vice-president and CCO, said: “The addition of Champion Energy is an important step in our concerted effort to create more channels for our wholesale power by getting closer to customers.”