Calpine To Shed Some Power Plants, Offices

Law360, New York (April 4, 2006, 12:00 AM EDT) -- Looking to slim down before it emerges from bankruptcy protection, power producer Calpine Corp. announced Tuesday that it plans to sell 20 power plants and close three of its offices as part of its restructuring objective to trim its annual costs by $150 million.

The company will sell about a fifth of its plants that are no longer essential to its core operations due to financial performance, industry prospects, strategic compatibility and other reasons. Calpine, which did not disclose which plants would be sold, will shed...
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