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M&A Deal Summary

Southern Acquires Calpine - Mankato Power Plant

On September 1, 2016, Southern acquired renewable energy company Calpine - Mankato Power Plant from Calpine for 396M USD

Acquisition Highlights
  • This is Southern’s 2nd transaction in the Renewable Energy sector.
  • This is Southern’s 3rd largest (disclosed) transaction.
  • This is Southern’s 4th transaction in the United States.
  • This is Southern’s 1st transaction in Minnesota.

M&A Deal Summary
Date 2016-09-01
Target Calpine - Mankato Power Plant
Sector Renewable Energy
Buyer(s) Southern
Sellers(s) Calpine
Deal Type Divestiture
Deal Value 396M USD

Target

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.

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Buyer(S) 1

Buyer

Southern

Atlanta, Georgia, United States
Category Company
Founded 1945
Sector Utilities
Employees27,819
Revenue 25.3B USD (2023)
DESCRIPTION

Southern is a premier energy company serving the Southeast through its subsidiaries. A U.S. producer of clean, safe, reliable and affordable electricity, Southern Company owns electric utilities in four states and a growing competitive generation company, as well as fiber optics and wireless communications. Southern was founded in 1945 and is based in Atlanta, Georgia.

DEAL STATS #
Overall 4 of 5
Sector (Renewable Energy) 2 of 3
Type (Divestiture) 2 of 3
State (Minnesota) 1 of 1
Country (United States) 4 of 5
Year (2016) 2 of 2
Size (of disclosed) 3 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-02-24 PowerSecure International

Wake Forest, North Carolina, United States

PowerSecure International, Inc. is a provider of utility and energy technologies to electric utilities and their industrial, institutional, and commercial customers. PowerSecure provides products and services in the areas of Interactive Distributed Generation ® (IDG®), energy efficiency and utility infrastructure.

Buy $431M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-10-16 Elizabethtown Gas

Union, New Jersey, United States

Elizabethtown Gas is a provider of natural gas for 283,000 residential, business and industrial natural gas customers in New Jersey.

Sell -

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 12 of 13
Sector (Renewable Energy) 7 of 8
Type (Divestiture) 10 of 11
State (Minnesota) 1 of 1
Country (United States) 11 of 12
Year (2016) 1 of 1
Size (of disclosed) 4 of 6
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2015-10-13 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.

Buy $500M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2016-10-09 Noble Americas Energy Solutions

San Diego, California, United States

Noble Americas Energy Solutions LLC is an independent supplier of power to commercial and industrial retail customers.

Buy $1.1B
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