Calpine in Talks to Sell 4 Power Plants
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Independent power producer Calpine Corp. said Tuesday that it was in talks to sell four natural gas-fired power plants, representing nearly 850 megawatts of capacity, for $357 million.
Calpine said the proposed sales were part of a plan to increase cash flow, become more efficient and reduce debt by more than $3 billion this year.
San Jose-based Calpine said it was in talks with Tenaska Power Fund about three of the plants and with Diamond Generating Corp. on the fourth. Three plants are in the Pennsylvania-New Jersey-Maryland power market; the fourth is in Illinois.
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