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M&A Deal Summary

Calpine and Mitsui & Co Acquire Greenfield Energy Centre

On October 17, 2008, Calpine and Mitsui & Co acquired renewable energy company Greenfield Energy Centre

Acquisition Highlights
  • This is Calpine’s 2nd and Mitsui & Co’s 1st transaction in the Renewable Energy sector.
  • This is Calpine’s 1st and Mitsui & Co’s 1st transaction in Canada.
  • This is Calpine’s 1st and Mitsui & Co’s 1st transaction in Ontario.
Investment Fate
  • Greenfield Energy Centre was sold to a consortium of buyers in 2011.

M&A Deal Summary
Date 2008-10-17
Target Greenfield Energy Centre
Sector Renewable Energy
Buyer(s) Calpine
Mitsui & Co
Deal Type Joint Venture

Target

Greenfield Energy Centre

Toronto, Ontario, Canada
Greenfield Energy Centre is a natural gas-fired combined-cycle electric generating facility with a capacity of approximately 300 MW located in St. Clair Township, Ontario.

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Buyer(S) 2

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 2 of 9
Sector: Renewable Energy M&A 2 of 6
Type: Joint Venture M&A Deals 1 of 1
State: Ontario M&A 1 of 1
Country: Canada M&A 1 of 1
Year: 2008 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2008-02-06 The Hillabee Project

Alexander City, Alabama, United States

The Hillabee Project is designed to be a clean and highly efficient 774-megawatt combined-cycle generating facility driven by two Siemens-Westinghouse 501G combustion turbines.

Sell $155M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2008-10-22 Calpine - Oil & Gas Properties

United States

Calpine - Oil & Gas Properties operates low-carbon, natural gas-fueled, and renewable geothermal power plants.

Sell $97M
Buyer

Mitsui & Co

Tokyo, Japan
Category Company
Founded 1947
Sector Diversified
Employees56,400
Revenue 14.66T JPY (2025)
DESCRIPTION

Mitsui & Co engages in the export, import, wholesale, and retail of steel products; steel processing; mining and sale of iron ores; and sale and trading of ferrous scrap and alloy products and chemicals, energy, food, food & retail management, healthcare & service, consumer business, IT & communication business, corporate development business. Mitsui & Co was founded in 1947 and is based in Tokyo, Japan.

DEAL STATS #
Overall 7 of 51
Sector: Renewable Energy M&A 1 of 6
Type: Joint Venture M&A Deals 3 of 3
State: Ontario M&A 1 of 2
Country: Canada M&A 1 of 2
Year: 2008 M&A 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2008-06-01 MED3OOO

Pittsburgh, Pennsylvania, United States

MED3000, Inc. provides healthcare management, operations, and information technology services for physicians, hospitals, employers, government, and payer clients in the United States.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2009-10-28 New Forests

Sydney, Australia

New Forests operates and manages investments in sustainably managed timberland and associated eco products, such as carbon credits, biodiversity credits, and mitigation banks. New Forests was founded in 2005 and is based in Sydney, Australia.

Buy -
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