Calpine Bids To Sell $80M Stake In Plant

Law360, New York (August 3, 2006, 12:00 AM EDT) -- In a bid to maintain Pacific Gas & Electric Co.’s involvement in a power plant project that could be worth up to $841 million, Calpine Corp. asked a bankruptcy judge on Tuesday to allow it to sell a 35% stake in the plant that is expected to bring in $80 million at an auction.

In court documents filed in the U.S. Bankruptcy Court for the Southern District of New York this week, the bankrupt energy giant sought permission to sell its stake in the Russell City...
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