Summary
Duke Energy Corporation, through its subsidiary Duke Energy Florida, Inc. (DEF), announced on January 30, 2015, that it has filed a request with the Florida Public Service Commission (FPSC) to purchase the Osprey Energy Center, a 599 MW combined cycle power plant in Auburndale, Florida, from an affiliate of Calpine Corporation for approximately $166 million. This filing indicates a strategic move by Duke Energy Florida to expand its generation capacity. The acquisition is contingent upon approvals from the FPSC and the Federal Energy Regulatory Commission (FERC), as well as the expiration of the Hart Scott Rodino waiting period.
Key Highlights
- 1Duke Energy Florida (DEF) seeks approval to acquire the 599 MW Osprey Energy Center for approximately $166 million.
- 2The acquisition is from Osprey Energy Center, LLC, a subsidiary of Calpine Corporation.
- 3The acquisition is subject to approval from the Florida Public Service Commission (FPSC) and the Federal Energy Regulatory Commission (FERC).
- 4A Hart Scott Rodino waiting period must also expire for the transaction to proceed.
- 5The targeted closing date for the Osprey Energy Center acquisition is January 2017, following the termination of DEF's existing Power Purchase Agreement with Calpine.
- 6In an alternative scenario, DEF has requested FPSC approval for the 320 MW Suwannee combustion turbine peaking generation project if the Osprey acquisition is not approved in a timely manner.