Plant Expected to be Operational in 2010 and Produce 774 Megawatts
BALTIMORE, Feb. 6 /PRNewswire-FirstCall/ -- Constellation Energy (NYSE:
CEG) today announced that its subsidiary, CER Generation, LLC, has won a
court-approved auction for Calpine Corporation's (NYSE: CPN-WI) Hillabee
Energy Center, a partially completed gas-fired power project near Alexander
City, Ala.
The company's purchase price for the facility is approximately $155
million. The project is approximately 80 percent complete and expected to
be operational in 2010 when construction and permitting are finalized.
"The acquisition of the Hillabee facility is another example of our
commitment to expanding beyond restructured competitive power markets into
regulated markets in the South," said Thomas V. Brooks, president,
Constellation Energy Resources and executive vice president, Constellation
Energy. "We have a significant wholesale load serving business and a
growing control area services and generation dispatch customer base in
southern markets. The addition of this generation asset will complement our
strong product and service offerings in this market. Our expertise and
extensive background in building and operating generating facilities is
well established."
Constellation Energy (http://www.constellation.com), a FORTUNE 125
company with 2007 revenues of $21 billion, is the nation's largest
competitive supplier of electricity to large commercial and industrial
customers and the nation's largest wholesale power seller. Constellation
Energy also manages fuels and energy services on behalf of energy intensive
industries and utilities. It owns a diversified fleet of 78 generating
units located throughout the United States, totaling approximately 8,700
megawatts of generating capacity. The company delivers electricity and
natural gas through the Baltimore Gas and Electric Company (BGE), its
regulated utility in Central Maryland.
SOURCE Constellation Energy
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Related links:
http://www.constellation.com
http://www.prnewswire.com/comp/084087.html/
CONTACT:
Media, Lawrence McDonnell, +1-410-470-7433,
or Investors, Kevin Hadlock, +1-410-470-3647, or Janet Moser,
+1-410-470-1884, all of Constellation Energy
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