Calpine Sells Wisconsin Plant to WPS Resource
- Share via
Calpine Corp., a power plant developer and energy trader, sold a Wisconsin electricity generator to WPS Resource Corp. for $120 million.
WPS, the owner of Wisconsin Public Service Corp., agreed to buy Calpine’s 180-megawatt De Pere Energy Center. A megawatt is enough power to light about 1,000 typical U.S. homes.
WPS also agreed to buy about $250 million in power from a Calpine energy center in Wisconsin for 10 years.
Calpine and other energy companies are trying to raise cash and bolster their balance sheets after Enron Corp.’s collapse eroded investor confidence in the industry.
In Big Board trading, San Jose-based Calpine rose 89 cents to $11.24 and WPS, based in Green Bay, Wis., rose 70 cents to $41.46 before the deal was announced.
Inside the business of entertainment
The Wide Shot brings you news, analysis and insights on everything from streaming wars to production — and what it all means for the future.
You may occasionally receive promotional content from the Los Angeles Times.
