M&A Deal Summary

Calpine Acquires Conectiv Energy Holding Co.

On April 21, 2010, Calpine acquired utilities company Conectiv Energy Holding Co. from Pepco Holdings for 1.7B USD

Acquisition Highlights
  • This is Calpine’s 1st transaction in the Utilities sector.
  • This is Calpine’s largest (disclosed) transaction.
  • This is Calpine’s 2nd transaction in the United States.
  • This is Calpine’s 1st transaction in Delaware.

M&A Deal Summary

Date 2010-04-21
Target Conectiv Energy Holding Co.
Sector Utilities
Buyer(s) Calpine
Sellers(s) Pepco Holdings
Deal Type Divestiture
Deal Value 1.7B USD

Target

Conectiv Energy Holding Co.

Newark,, Delaware, United States
Conectiv Energy Holding Company, LLC generates, sells, and market electricity and gas.

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Buyer(S) 1

Buyer

Calpine

Houston, Texas, United States

Category Company
Founded 1984
Sector Utilities
Employees2,209
Revenue 6.5B USD (2015)
DESCRIPTION

Calpine is a generator of electricity from natural gas and geothermal resources with operations in competitive power markets. Calpine was founded in 1984 and is based in Houston, Texas.


DEAL STATS #
Overall 3 of 9
Sector: Utilities M&A 1 of 2
Type: Divestiture M&A Deals 1 of 6
State: Delaware M&A 1 of 1
Country: United States M&A 2 of 8
Year: 2010 M&A 1 of 1
Size (of disclosed) 1 of 7
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2010-01-11 Calpine Windy Point Wind Farm

Goldendale, Washington, United States

The Windy Point/Windy Flats project is located in Goldendale, Washington, along the Columbia River some 100 miles (160 km) east of Portland, Oregon, 70 miles (100 km) south of Yakima, Washington, and 100 miles (160 km) west of the Tri-Cities. The terrain is generally rolling with an elevation of 1,620 feet (494 m) at the airport.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2010-10-29 Calpine - Freestone Energy Center

Texas, United States

Calpine Corp., Freestone Energy Center is a natural gas fired power plant that has a production capacity of 1,038 megawatts.

Sell -

Seller(S) 1

SELLER

Pepco Holdings

Washington, District of Columbia, United States

Category Company
Founded 1896
Sector Utilities
Employees5,125
Revenue 4.9B USD (2014)
DESCRIPTION

Pepco Holdings, Inc. is an energy delivery companies in the Mid-Atlantic region, serving about 2 million customers in Delaware, the District of Columbia, Maryland and New Jersey. PHI subsidiaries Pepco, Delmarva Power, and Atlantic City Electric provide regulated electricity service; Delmarva Power also provides natural gas service. PHI also provides energy efficiency and renewable energy services through Pepco Energy Services.


DEAL STATS #
Overall 1 of 1
Sector: Utilities M&A 1 of 1
Type: Divestiture M&A Deals 1 of 1
State: Delaware M&A 1 of 1
Country: United States M&A 1 of 1
Year: 2010 M&A 1 of 1
Size (of disclosed) 1 of 1