San Jose, CA-based Calpine Corp. announced Monday it has bought the rights to build, own and operate a $510 million, 850 MW natural gas-fired electric generating plant along the Ohio River in Hamilton Township, Lawrence County, OH. The plant, called the Lawrence Energy Center, is targeted for starting operations in 2004. Calpine said it bought the plant rights from Hanging Rock Energy Project, LLC, a wholly owned subsidiary of a Boston-based firm that had started the preliminary development efforts for the project. The proposed plant, which will be designed so it can provide peak-demand capacity up to 1,100 MW and 850 MW on a baseload basis, will interconnect with Columbus, OH-based American Electric Power at its Hanging Rock substation, from which the plant could sell into four or five regional markets, including Ontario, Canada. The Lawrence project is Calpine’s second in Ohio; it is currently seeking state siting approval for a proposed 540 MW generating plant, the Fremont Energy Center, in Sandusky Twp. To date, Calpine, which announced several purchases and projects in several states last week, now has about 26,800 MW of baseload capacity and 5,100 MW of peaking capacity in operation, under construction or announced development in 27 states and Alberta, Canada.
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Calpine Keeps Buying: Ohio This Week
San Jose, CA-based Calpine Corp. announced Monday it has boughtthe rights to build, own and operate a $510 million, 850 MW naturalgas-fired electric generating plant along the Ohio River inHamilton Township, Lawrence County, OH. The plant, called theLawrence Energy Center, is targeted for starting operations in2004.
CA-Based Calpine Acquires Canadian E&P Co.
In its second bite this year at Canadian reserves, San Jose,CA-based independent power producer Calpine Corp. announced Mondayit will make a cash offer to acquire TriGas Exploration Inc.,Calgary, Alberta, for C$156 million. The two companies jointlyannounced they have an agreement that has the “unanimous support”of both companies’ boards.
Mix of Supplies Insulates Calpine
Calpine Corp., the San Jose, CA-based merchant power plantdeveloper, maintains a voracious appetite for natural gas that itexpects to reach 6 to 7 Bcf/d in the next five years, but it isunfazed by the current price spike and supply tightness headinginto winter. A diversified portfolio approach that aims for up to aquarter of its supplies coming from its own reserves makes Calpineofficials shrug off worries about future gas markets.
Calpine on Buying, Building, Earning Spree
San Jose, CA-based Calpine Corp. continued its buying/buildingspree last week, acquiring 205 Bcf of natural gas reserves in threedifferent North American locations for $206 million, bringing theaggressive merchant electric generating plantdeveloper/owner/operator’s portfolio of total proved serves to 430Bcf. The move followed Monday’s announcement of Second quarterearnings increase of 176%, compared to 2Q of last year, and a new$2.5 billion revolving credit facility with a consortium of banksto pay for Calpine’s large portfolio of power projects in theUnited States
Calpine on Buying, Building, Earning Spree
San Jose, CA-based Calpine Corp. continued its buying/buildingspree Tuesday, acquiring 205 Bcf of natural gas reserves in threedifferent North American locations for $206 million, bringing theaggressive merchant electric generating plantdeveloper/owner/operator’s portfolio of total proved serves to 430Bcf. The move followed Monday’s announcement of Second quarterearnings increase of 176%, compared to 2Q of last year, and a new$2.5 billion revolving credit facility with a consortium of banksto pay for Calpine’s large portfolio of power projects in theUnited States
Calpine Boosts Presence in NE Power Market
San Jose, CA-based Calpine Corp. announced yesterday it hascompleted the acquisitions of the remaining 50% interests in twonatural gas-fired power generation facilities from two affiliatesof Statoil Energy Inc. of Alexandria, VA, for $71 million.
Calpine Corp. to Build 540-MW Facility in Ohio
San Jose’s Calpine Corp. has gobbled up the development rightsto build, own and operate a 540 MW natural gas-fired electricitygenerating facility in the energy-hungry Midwest. During periods ofhigh demand, the new Fremont Energy Center in Ohio, which isscheduled to go online in mid-2003, could generate more than 700MW.
Calpine Aggressively Seeking Gas Supplies for Power Plants
The acquisition and management of natural gas supplies is a keypart of San Jose, CA-based Calpine Corp.’s five-year strategy tohave generating plants totaling 25,000 MW by the end of 2004, theaggressive merchant power plant developer/operator’s seniorexecutives told the company’s annual shareholders’ meeting lastweek.
Calpine Aggressively Seeking Gas Supplies
The acquisition and management of natural gas supplies is a keypart of San Jose, CA-based Calpine Corp.’s five-year strategy tohave generating plants totaling 25,000 MW by the end of 2004, theaggressive merchant power plant developer/operator’s seniorexecutives told the company’s annual shareholders’ meeting lastweek.
