Jun 27, 2011
Calpine Corp. (NYSE:CPN) and GE Energy Financial Services (NYSE:GE) announced they obtained an $844.5 million credit facility to finance construction of the 619-megawatt, combined-cycle Russell City Energy in California.
Jack Fusco, Calpine's President and Chief Executive Officer said, "This financing marks an important milestone in our effort to bring much-needed electric power supply to California's Bay Area, allowing us to complete the construction of a modern, flexible, highly efficient, clean and low-carbon energy resource. Building upon our 27-year history in the state, this project demonstrates our ongoing commitment to providing reliable and sustainable electricity."
Calpine has a potential upside of 16% based on a current price of $15.82 and an average consensus analyst price target of $18.35.
Oil & Gas Post
Promote Your Page Too
No comments:
Post a Comment