Generation, Natural Gas

Calpine Corp. sells 809 MW gas plant in New England

Calpine Corp. 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 MW, from Exelon Corp. for $530 million plus adjustments, or about $655 per kW. 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.

Calpine has a fleet of 88 power plants, representing 27,000 MW and serving customers in 18 U.S. states and Canada.