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Calpine Asks Permission To Invest $45M

Law360 (August 28, 2006, 12:00 AM EDT) -- Bankrupt energy company Calpine Corp. has requested court permission to contribute $45 million to the development and construction of a Canadian power generation facility, in order to maintain its 50% stake in the project.

A Calpine subsidiary comprises half of the Greenfield Partnership, a limited partnership formed to build and operate the Greenfield Project, a geothermal power generation plant in Ontario, Canada.

Construction on the plant commenced in 2005, with operation scheduled for 2008, but the partnership must still secure $528 million in funding in order...
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