Divestiture • Renewable Energy

Calpine Acquires Granite Ridge Energy Center

On October 13, 2015, Calpine acquired renewable energy company Granite Ridge Energy Center from Granite Ridge Holdings for 500M USD

Acquisition Context
  • This is Calpine’s 6th transaction in the Renewable Energy sector.
  • This is Calpine’s 5th largest (disclosed) transaction.
  • This is Calpine’s 7th transaction in the United States.
  • This is Calpine’s 1st transaction in New Hampshire.

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M&A Deal Summary

Date October 13, 2015
Target Granite Ridge Energy Center
Sector Renewable Energy
Buyer(s) Calpine
Sellers(s) Granite Ridge Holdings
Deal Type Divestiture
Deal Value 500M USD

Target Company

Granite Ridge Energy Center

Londonderry, New Hampshire, United States
Granite Ridge Energy Center is a 745 megawatt, combined-cycle, gas-fired power plant is located in Londonderry, New Hampshire, approximately 45 miles northwest of Boston.
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Buyer Overview 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 Context for Buyer #
Overall 8 of 9
Sector: Renewable Energy 6 of 6
Type: Divestiture 5 of 6
State: New Hampshire 1 of 1
Country: United States 7 of 8
Year: 2015 2 of 2
Size (of disclosed) 5 of 7
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2015-10-01 Champion Energy Marketing

Houston, Texas, United States

Champion Energy Marketing LLC is a retail electric provider.

Buy $240M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2016-09-01 Calpine - Mankato Power Plant

Minnesota, United States

Calpine - Mankato Power Plant is a 375 MW natural gas-fired, combined-cycle power plant located in Minnesota. Mankato is a modern, efficient and well-performing plant under long-term contract to the local utility and with an expansion in advanced development.

Sell $396M

Seller Profile 1

SELLER

Granite Ridge Holdings

Londonderry, New Hampshire, United States

Category Company
Founded 1998
Sector Utilities
DESCRIPTION

Granite Ridge Holdings LLC is a provider of electric services. Granite Ridge Energy, LLC was founded in 1998 and is based in Londonderry, New Hampshire.


Deal Context for Seller #
Overall 1 of 1
Sector: Renewable Energy 1 of 1
Type: Divestiture 1 of 1
State: New Hampshire 1 of 1
Country: United States 1 of 1
Year: 2015 1 of 1
Size (of disclosed) 1 of 1