Calpine Sells Its Part of 525-MW Mexico Power Plant

San Jose, California [] Calpine Corporation announced that one of its foreign nondebtor affiliates has completed the sale of its 45 percent equity interest in the 525-megawatt (MW) Valladolid III Power Plant, located on the Yucatan Peninsula, Mexico, to the two remaining partners in the project, Mitsui & Co., Ltd. and Chubu Electric Power Co., Inc. With this sale, Calpine advances its program to strengthen its core power business as part of its Chapter 11 restructuring. Calpine received a cash payment of approximately $43 million. Calpine Corporation is capable of delivering nearly 27,000 MW of clean, reliable and fuel-efficient electricity to customers and communities in 21 U.S. states and three Canadian provinces through its integrated systems of renewable geothermal and fuel-efficient natural gas-fired power plants.
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