Article: Calpine Agrees to Sell Its Interest in 525-MW Mexico Power Plant.

Company Advances Its Restructuring Program to Strengthen Core Power Business

SAN JOSE, Calif., March 29 /PRNewswire-FirstCall/ -- Calpine Corporation (OTC Pink Sheets: CPNLQ) today announced that its foreign non-debtor affiliate has agreed to sell its 45-percent interest in the 525-megawatt Valladolid III Power Plant, currently under construction on the Yucatan Peninsula in Mexico. Calpine is selling its equity interest to the two remaining partners in the project, Mitsui & Co., Ltd. and Chubu Electric Power Co., Inc. (together the "Buyers"), for a purchase price of approximately $43 million.

Under terms of the agreement, Calpine will receive a cash ...

Related newspaper, magazine, and journal articles:

 
 
Newsweek Harper's Magazine The Washington Post Chicago Tribune Crain's Chicago Business PRNewswire Pediatric News The Nation Advertising Age The Economist (US) A FREE trial gives you access to over 80 million articles! Access over 6,500 publications with a FREE trial!