Pierce Atwood Assists Calpine Corporation with $530 Million Acquisition of Fore River Generating Station
We congratulate our client, Houston-based Calpine Corporation, on the completed purchase of the 809 MW Fore River Generating Station in North Weymouth, Massachusetts, from Chicago-based Exelon Corporation for $530 million. This acquisition further extends Calpine’s New England presence.
Acting as Calpine’s real estate and permitting counsel from the initial the bid preparation through purchase agreement negotiation to final closing in 15 weeks, over a dozen Pierce Atwood attorneys from the Real Estate, Energy, Environmental and State and Local Tax practice groups worked seamlessly to analyze and resolve the many complex land use, tax, and environmental issues.
After the closing, Boston Real Estate Partner Rick Novak described the matter as “a classic Pierce Atwood team play success, with lawyers from offices firmwide leaping in, often on little no notice, to provide timely and inventive client service solutions.”
Calpine is America’s largest generator of electricity from natural gas and geothermal resources. Its fleet of 87 power plants in operation or under construction represents approximately 26,000 megawatts of generation capacity, serving customers in 17 U.S. states and Canada.