Calpine's Comeback.
After being given up for dead, San Jose-based Calpine is showing is signs of life. AOL's Hilary Kramer notes that Calpine, which went BK in late 2005 and until recently was thought to be ripe for the picking by any of a number of private equity groups, is not your average bankrupt company.
Calpine has real assets that create real cash flow. In addition to customer contracts, Calpine owns 85 gas-fired and geothermal plants and recently refinanced $5 billion of its debt for an annual savings of $100 million.
Calpine is also set to ride the California green wave with a planned geothermal project that will be able to supply up to 60% of the average annual demand for the region between San Francisco and the Oregon border.
Calpine May Be The Turnaround Story of 2007 [Seeking Alpha]
Calpine has real assets that create real cash flow. In addition to customer contracts, Calpine owns 85 gas-fired and geothermal plants and recently refinanced $5 billion of its debt for an annual savings of $100 million.
Calpine is also set to ride the California green wave with a planned geothermal project that will be able to supply up to 60% of the average annual demand for the region between San Francisco and the Oregon border.
Calpine May Be The Turnaround Story of 2007 [Seeking Alpha]
posted by CalEnergyGuy at 8:50 AM
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