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News Breaks
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.
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May 12, 2015
18:01 EDTCPNCalpine appoints W.G. "Trey" Griggs as Chief Commercial Officer
Calpine has named W.G. “Trey” Griggs III its Executive Vice President and Chief Commercial Officer effective June 1. Previously Griggs was a Managing Director at Goldman Sachs & Co. At Calpine, Griggs will have responsibility for the trading, origination, development and commercial analytics groups and will report to Calpine’s CEO. For the past four years, Griggs led Goldman Sachs’ North American Energy Risk Management activities and the Houston Trading Office.

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