Constellation Energy (CEG) agreed to acquire privately-held energy company Calpine in a cash-and-stock deal for a net price of $26.6 billion, including debt. Constellation will purchase Calpine, which produces electricity from natural gas and geothermal resources,

Constellation is buying power natural gas and geothermal power provider Calpine in a cash-and-stock deal valued at approximately $16.4 billion, joining together two of the country’s biggest power companies.

Combined, they will have a capacity of 60 gigawatts from nuclear, natural gas, geothermal, hydro, wind, solar, cogeneration and battery storage.

Image by DigtialStorm via iStock Constellation Energy Corporation is acquiring ... including California, Delaware, New York, Pennsylvania, and Virginia, according to the release.

The combined entity would have almost 60 GW of generating capacity from zero- and low-emission sources, including nuclear, natural gas, geothermal, hydro, wind, solar and batteries.

“By combining Constellation’s unmatched expertise in zero-emission nuclear energy with Calpine’s industry-leading, best-in-class, low-carbon natural gas and geothermal generation ...

Constellation is buying natural gas and geothermal power provider Calpine for $16.4 billion, joining together two of the country's biggest power companies.

Summaries of the agenda items for the Federal Energy Regulatory Commission's monthly open meeting to be held on January 16, 2025, pursuant to

Constellation's USD26.6 billion acquisition of Calpine, the USA's largest generator of electricity from natural gas and geothermal resources, will turn the company which already owns the biggest US nuclear fleet in the USA into the country's largest clean energy power provider.

Constellation Energy has agreed to acquire electricity generator Calpine in a cash and stock transaction valued at around $16.4bn

Bill Rogers, managing director and head of Sustainable Energies at CPP Investments, expressed satisfaction with the outcome, stating, “We are pleased by the success of our investment in Calpine and view this transaction as an excellent opportunity to realize strong returns for the CPP Fund.”

Baltimore-based Constellation’s plans to acquire a Houston, Texas,-based natural gas  producer in a $26.6 billion deal will create one of the nation’s biggest energy firms at a time