Private equity firm in talks to buy Calpine, largest U.S. geothermal operator

Geothermal Plant by Calpine in The Geysers, California (source: flickr/ thinkgeoenergy, creative commons)
Alexander Richter 1 Aug 2017

Energy Capital Partners, a private equity player based in New Jersey/ U.S. is in final talks for buying Calpine, one of the top 5 geothermal power operators in the world.

Earlier this summer, it was reported that Calpine, the operator of the geothermal plants at The Geysers in California and one of the top 5 geothermal operators worldwide is considering a sale.

Bloomberg now reports that talks are ongoing with a specific player to buy the assets. The company now in discussions with Calpine is Energy Capital Partners, a private equity firm. If the ongoing discussions are successful, the sale could be announced as early as this week.

As reported in May, there has been a great interest by various private equity firms and had revenues of $6.7 billion in 2016. As an energy firm, the company operates The Geysers geothermal power plants in California, which only represent a relatively small part of its electricity generating assets. The company describes itself as America’s largest generator of electricity from natural gas and geothermal resources.

According to Bloomberg, Energy Capital Partners, based out of New Jersey – is a large investor in a competitor of Calpine.

Source: Houston Business Journal