Latest Calpine Stories
By Christopher Hinz, Reading Eagle, Pa. Jul. 1--It's Berks County's newest power plant and, at 580 megawatts, the county's largest in terms of electrical generating capacity. "To put that into perspective, that's about 500,000 homes that we can power," said Joseph C. Lloyd, plant manager of Ontelaunee Energy Center, which went online in 2002. Located at 5115 Pottsville Pike, or Route 61, in Ontelaunee Township, the plant is fueled by natural gas from a nearby pipeline. Coal-fired Titus...
SAN JOSE, Calif., May 4 /PRNewswire-FirstCall/ -- Calpine Corporation (OTC Pink Sheets: CPNLQ) announced today that its subsidiary, Otay Mesa Energy Center LLC ("OMEC"), obtained a $377 million credit facility to finance the construction of its 596-megawatt Otay Mesa Energy Center near San Diego, Calif. The project finance facility for this indirect, stand-alone subsidiary is comprised of a construction loan that will convert to a term loan at commercial operations, expected in May 2009....
By Leonard Anderson and Michael Erman SAN FRANCISCO/NEW YORK (Reuters) - Embattled power producer Calpine Corp. filed for bankruptcy late on Tuesday, weighed down by $17 billion in debt and court battles with creditors over how to use its cash. Calpine, squeezed by a credit crunch and a weak merchant power market that resulted from the collapse of Enron and the California energy crisis in 2000-2001, said it filed petitions to restructure under Chapter 11 of the U.S. Bankruptcy Code in...
NEW YORK (Reuters) - The Delaware Supreme Court has upheld a lower-court ruling that embattled power producer Calpine Corp. misspent $312 million in asset-sale proceeds to buy fuel for its power plants. In a 10-page opinion issued late on Friday, Justice Jack Jacobs also upheld the Court of Chancery's ruling that Calpine had until January 22, 2006, to repay the funds to a designated bank account, plus interest. On Thursday, the court heard arguments from Calpine, one of the biggest...
