Energy Capital Partners Reportedly Nears $17 Bln Deal To Buy Calpine

(RTTNews) - The Wall Street Journal report that Energy Capital Partners is nearning a $17 billion deal to acquire Calpine Corp. (CPN).

Energy Capital, a private-equity firm specializing in energy infrastructure, would pay $15.25 per share for the power-generating company, the Journal reported, The deal would value Calpine at $5.5 billion. Including debt, the deal would be valued at about $17 billion, the Journal said, and may be announced as soon as Friday.

Calpine is known mostly for its natural-gas power plants, and provides power for about 6.5 million residential customers across the U.S.