Calpine Completes Sale of Colorado Plants to Xcel Energy
December 06 2010 - 1:54PM
Business Wire
Calpine Corporation (NYSE:CPN) today completed the sale of its
two Colorado power plants to Public Service Company of Colorado
(PSCo), an Xcel Energy Company (NYSE:XEL), for $739 million, or
$794 per kilowatt, plus adjustments.
Xcel Energy acquired the 621-megawatt Rocky Mountain Energy
Center, an efficient combined-cycle plant near Hudson, Colo., that
began commercial operation in 2004, as well as the 310-megawatt,
simple-cycle Blue Spruce Energy Center in Aurora, Colo., which
began operation in 2003.
Calpine and Xcel Energy announced the planned transaction in
April following an offer by Calpine into a competitive bid process
that was part of Xcel Energy’s 2007 Colorado Resource Plan. Calpine
offered the least-cost option among many bids for the needed
generating resources.
The Colorado Public Utilities Commission unanimously approved
Xcel Energy’s purchase of the two plants on October 18.
About Calpine
Founded in 1984, Calpine Corporation is a major U.S. power
company, currently capable of delivering approximately 27,500
megawatts of clean, cost-effective, reliable and fuel-efficient
power from its 91 operating plants to customers and communities in
20 U.S. states and Canada. Calpine Corporation is committed to
helping meet the needs of an economy that demands more and cleaner
sources of electricity. Calpine owns, leases and operates
low-carbon, natural gas-fired and renewable geothermal power
plants. Using advanced technologies, Calpine generates power in a
reliable and environmentally responsible manner for the customers
and communities it serves. Please visit our website at
www.calpine.com for more information.
Forward-Looking Information
In addition to historical information, this release contains
forward-looking statements within the meaning of Section 27A of the
Securities Act of 1933, as amended, and Section 21E of the
Securities Exchange Act of 1934, as amended. Words such as
“believe,” “intend,” “expect,” “anticipate,” “plan,” “may,” “will”
and similar expressions identify forward-looking statements. Such
statements include, among others, those concerning expected
financial performance and strategic and operational plans, as well
as assumptions, expectations, predictions, intentions or beliefs
about future events. You are cautioned that any such
forward-looking statements are not guarantees of future performance
and that a number of risks and uncertainties could cause actual
results to differ materially from those anticipated in the
forward-looking statements. Please see the risks identified in this
release or in Calpine’s reports and registration statements filed
with the Securities and Exchange Commission, including, without
limitation, the risk factors identified in its Annual Report on
Form 10-K for the year ended Dec. 31, 2009, and its Quarterly
Report on Form 10-Q for the quarter ended Sept. 30, 2010. These
filings are available by visiting the Securities and Exchange
Commission’s website at www.sec.gov or Calpine’s website at
www.calpine.com. Actual results or developments may differ
materially from the expectations expressed or implied in the
forward-looking statements, and Calpine undertakes no obligation to
update any such statements.
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