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February 13, 2014
06:10 EDTCPNCalpine reports Q4 EPS (23c), may not be comparable to consensus (7c)
Reports Q4 adjustd net income $5M. Reports Q4 revenue $1.44B, consensus $1.59B
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April 18, 2014
13:30 EDTCPNCalpine sees sell six Southeast region power plants for $1.57B
Calpine announced that it has agreed to sell six power plants in its Southeast region to LS Power for $1.57B in cash, subject to working capital and other adjustments. The portfolio of assets comprises 3,498 MW of combined-cycle generation capacity in Oklahoma, Louisiana, Alabama, Florida and South Carolina. Calpine expects to utilize existing federal and state net operating losses to almost entirely offset the projected taxable gains from the sale. In addition, none of the assets included in the transaction are directly encumbered with project debt. Therefore, the transaction is expected to result in net cash proceeds of approximately $1.53B, which the company intends to allocate in a balanced manner that maintains leverage neutrality and is accretive to Adjusted Free Cash Flow Per Share.
April 10, 2014
07:27 EDTCPNSenate Energy & Natural Resources Committee to hold a hearing
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