Calpine buys more natural gas reserves

The deal announced last month resulted in 96.5% of the shares outstanding being deposited and now acquired by Calpine. The board of directors has been replaced with Calpine nominees and Calpine says it will proceed in accordance to Alberta law to acquire the balance of the shares not deposited.

WASHINGTON, Nov. 16, 2000–The Justice Department, the Environmental Protection Agency and the State of New York today announced an agreement in principle with Virginia Power that requires the company to significantly reduce harmful air pollution from the company’s eight coal-fired power plants, perform $13.9 million in environmental projects, and pay a $5.3 million civil fine.

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