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| Calpine to Sell Its Interest in Mexico Power Plant Calpine Corporation announced that its foreign non-debtor affiliate has agreed to sell its 45-percent interest in the 525-megawatt Valladolid III Power Plant, currently under construction on the Yucatan Peninsula in Mexico. Calpine is selling its equity interest to the two remaining partners in the project, Mitsui & Co., Ltd. and Chubu Electric Power Co., Inc. (together the "Buyers"), for a purchase price of approximately $43 million. Valladolid III is a natural gas-fired, combined-cycle power plant that will provide up to 525 megawatts of energy through a 25-year power purchase agreement with the Comision Federal de Electricidad. Calpine had supplied two General Electric F-class combustion gas turbines in exchange for its 45-percent interest in the project. Calpine also provided engineering, construction and commissioning services for the construction subcontractor. Construction of the project is scheduled for completion in June 2006. write your comments about the article :: © 2006 Construction News :: home page |