Calpine reaches deal to finish San Diego plant
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.