Calpine buys Noble’s US energy business for $1 billion

• 7 years ago (2016-10-10)
• David Flin

Africa 306 Asia 860 Australasia 51 Biomass 8 Climate change 20 Coal 282 Cogeneration 1 Concentrating solar 5 Cyber security 8 Decarbonisation 1 Decentralised energy 5 Demand side management 2 Demand side response 2 Digitalisation 10 Distributed energy 10 Distribution 113 Electric vehicles EVs 4 Emissions 61 Energy management 1 Equipment 2 Europe 1069 Gas 379 Gas engine plant 62 Gas fuel 2 Horizon 2 Hydroelectric 17 Hydrogen 56 Hydropower 116 Latin America 77 Maintenance 3 Marine 1 Metering 2 microgrid 5 Middle East 317 North America 1004 Nuclear 643 Offshore wind 119 Oil 18 Operations 4 Policy 8 Regulations 3 Renewables 758 smart grid 2 Solar 250 Storage 41 substation 8 Tepco 2 Tidal 2 Toshiba 4 Transmission 181 US Senate Washington 4 Wind 241

---

Noble Group of Singapore has announced that it has signed a deal valued at $1.05 billion with Calpine Corporation to sell its American energy business to the US power generation company.

Noble will be paid $800 million for Noble Americas Energy Solutions. In addition, Noble will be repaid $248 million of the unit’s working capital, according to a statement made to the Singapore Exchange. The divestment will release $275 million in letters of credit and surety bonds, which will now be available to Noble.

Jeff Frase and Will Randall, Co-Chief Executives for Noble, said in a statement: “The sale substantially completes the $2 billion capital raising initiative that we announced in June. With this divestiture, Noble will continue to reduce debt will also funding growth opportunities in our high return businesses.”