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Calpine reaches deal to finish San Diego plant

From the Associated Press

Calpine Corp. said it had struck a deal that would allow the company to complete a long-stalled power plant meant to generate electricity for San Diego.

Calpine is a San Jose-based electricity supplier operating under bankruptcy protection.

The deal with San Diego Gas & Electric Co. could be worth as much as $130 million to Calpine. Without it, the company said, it would be forced to halt development of its 596-megawatt Otay Mesa project near the U.S.-Mexico border.


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