Constellation Energy Wins Bidding for Unfinished Calpine Gas Plant in Alabama |
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Constellation Energy
750 E. Pratt St.
Baltimore, MD, 21202
USA
Press release date: February 6, 2008
Plant Expected to be Operational in 2010 and Produce 774 Megawatts
BALTIMORE, Feb. 6 - Constellation Energy (NYSE:CEG) today announced that its subsidiary, CER Generation, LLC, has won a court-approved auction for Calpine Corporation's (NYSE:CPN-WI) Hillabee Energy Center, a partially completed gas-fired power project near Alexander City, Ala.
The company's purchase price for the facility is approximately $155 million. The project is approximately 80 percent complete and expected to be operational in 2010 when construction and permitting are finalized.
"The acquisition of the Hillabee facility is another example of our commitment to expanding beyond restructured competitive power markets into regulated markets in the South," said Thomas V. Brooks, president, Constellation Energy Resources and executive vice president, Constellation Energy. "We have a significant wholesale load serving business and a growing control area services and generation dispatch customer base in southern markets. The addition of this generation asset will complement our strong product and service offerings in this market. Our expertise and extensive background in building and operating generating facilities is well established."
Constellation Energy (http://www.constellation.com/), a FORTUNE 125 company with 2007 revenues of $21 billion, is the nation's largest competitive supplier of electricity to large commercial and industrial customers and the nation's largest wholesale power seller. Constellation Energy also manages fuels and energy services on behalf of energy intensive industries and utilities. It owns a diversified fleet of 78 generating units located throughout the United States, totaling approximately 8,700 megawatts of generating capacity. The company delivers electricity and natural gas through the Baltimore Gas and Electric Company (BGE), its regulated utility in Central Maryland.
FCMN Contact: lawrence.mcdonnell@constellation.com
Source: Constellation Energy
CONTACT: Media, Lawrence McDonnell, +1-410-470-7433,
or Investors, Kevin Hadlock, +1-410-470-3647,
or Janet Moser, +1-410-470-1884, all of Constellation Energy
Web site: http://www.constellation.com/
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