M&A Deal Summary

ECP Acquires Calpine Power - Broad River Energy Center

On December 27, 2012, private equity firm ECP acquired renewable energy company Calpine Power - Broad River Energy Center from Calpine for 427M USD

Acquisition Highlights
  • This is ECP’s 4th transaction in the Renewable Energy sector.
  • This is ECP’s 8th largest (disclosed) transaction.
  • This is ECP’s 21st transaction in the United States.
  • This is ECP’s 2nd transaction in South Carolina.

M&A Deal Summary
Date 2012-12-27
Target Calpine Power - Broad River Energy Center
Sector Renewable Energy
Buyer(s) ECP
Sellers(s) Calpine
Deal Type Divestiture
Deal Value 427M USD

Target

Calpine Power - Broad River Energy Center

South Carolina, United States
Broad River Energy Center is an 847 megawatt simple-cycle, natural gas-fired power plant.

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Buyer(S) 1

Buyer

ECP

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 2005
PE ASSETS 27.0B USD
Size Mega
Type Sector Focused
DESCRIPTION

ECP is a specialist private equity firm focused on investments in energy infrastructure. Specific areas of interest include power generation, including renewable energy facilities; electric transmission; midstream gas, including gas storage and pipelines; and other energy service businesses and infrastructure assets. The Firm primarily targets opportunities located in North America. ECP was formed in 2005 and is based in Summit, New Jersey.

DEAL STATS #
Overall 22 of 53
Sector (Renewable Energy) 4 of 14
Type (Divestiture) 4 of 9
State (South Carolina) 2 of 2
Country (United States) 21 of 50
Year (2012) 4 of 4
Size (of disclosed) 8 of 12
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2012-12-27 Broad River Energy

Gaffney, South Carolina, United States

Broad River Energy is an 850 MW dual-fuel, simple-cycle power generation facility located in Gaffney, South Carolina that is fully committed to Duke Energy Progress under two long-term tolling agreements. Broad River utilizes 5 GE 7FA.03 gas turbine generators for the generation of electrical power. The units can be on the grid and supplying power within 15 minutes to help serve peak and emergency loads.

Buy $427M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2013-01-07 EnergySolutions

Salt Lake City, Utah, United States

EnergySolutions is a nuclear services company that offers safe recycling, processing, and disposal of nuclear material. EnergySolutions provides a full range of Decommissioning and Decontamination (D&D) services to shut down nuclear power plants. EnergySolutions was founded in 1988 and is based in Salt Lake City, Utah.

Buy -

Seller(S) 1

SELLER

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 9 of 13
Sector (Renewable Energy) 5 of 8
Type (Divestiture) 7 of 11
State (South Carolina) 1 of 1
Country (United States) 8 of 12
Year (2012) 1 of 1
Size (of disclosed) 2 of 6
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2012-11-07 Bosque Power Plant

Texas, United States

Bosque Power Plant, which has generating capacity of 800 megawatts. Bosque Power Plant comprises a 250-megawatt block with one natural-gas turbine, one heat-recovery steam generator and one steam turbine and a 550-megawatt block with two natural-gas turbines.

Buy $432M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2013-01-02 Riverside Energy Center

Beloit, Wisconsin, United States

The Riverside Energy Center is a 600MW combined cycle natural gas-fired electric generating facility located in Beloit, Wisconsin.

Sell $400M
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