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Constellation Energy to buy Calpine in $26.6 billion deal

01/10/2025

Less than a minute

2025.01.10 07:05

(Reuters) – Constellation Energy (NASDAQ:) said on Friday it would buy privately held Calpine Corp, a geothermal and natgas energy company, in a cash-and-stock deal valued at $26.6 billion including debt.

© Reuters. FILE PHOTO: The main generator sits in the turbine hall at the Three Mile Island Nuclear power plant, during a tour by Constellation Energy in Pennsylvania, U.S., October 16, 2024. REUTERS/Shannon Stapleton/File Photo

The deal comes as electricity demand is expected to rise to record highs this year, according to data from the U.S. Energy Information Administration.

Constellation’s shares rose 3.3% following the deal announcement.

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01/10/2025

Less than a minute