Calpine Corporation has completed the acquisition of a natural gas-fired, combined-cycle power plant located in North Weymouth, Massachusetts, 12 miles southeast of Boston.

Calpine purchased the plant, which has a nameplate generating capacity of 809 megawatts, from Exelon Corporation for $530 million plus adjustments, or approximately $655 per kilowatt. The transaction was funded with cash on hand, which Calpine expects to replenish through a financing later this year.

Built in 2003, the Fore River Energy Center features two combustion turbines, two heat recovery steam generators and one steam turbine. One turbine features dual-fuel capability that will enable it to run this winter on either natural gas or fuel oil, depending on market conditions, with the other turbine scheduled to be dual-fuel capable by next winter. All of Fore River’s energy, capacity and ancillary services are sold into the competitive wholesale power markets administered by ISO-New England.

Tags:
Massachusetts   New England   ISO New England   Calpine   M&A  

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