Constellation Completes Acquisition of Calpine; Groups Have 55 GW of Generation Capacity

Core Insights - Constellation has completed the acquisition of Calpine Corp. from Energy Capital Partners, creating the largest electricity producer in the U.S. [1] - The total value of the transaction, including debt, is $26.6 billion, with the initial deal announced as a $16.4 billion agreement a year ago [1] - The merger combines Constellation's nuclear power fleet with Calpine's natural gas-fired and geothermal generation [1] Company Impact - The merged entity will serve 2.5 million retail and business customers across the nation [1] - The acquisition enhances Constellation's presence in high-demand regions such as Texas and California, while also maintaining significant operations in Illinois, Maryland, New York, and Pennsylvania [1] - The combined generation capacity of Constellation and Calpine is 55 GW [1] Strategic Goals - The merger aims to provide reliable, clean energy to support America's growth amid increasing energy demand and competition in AI leadership [1] - The companies emphasize a commitment to safety, sustainability, and operational excellence, aiming to better serve customers and communities [1] - The acquisition is seen as a validation of Energy Capital Partners' vision to unlock value and drive long-term growth opportunities in the power generation sector [1]