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Acquisition (Notes) | 3 Months Ended
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Mar. 31, 2014
Business Combinations [Abstract] |
Mergers, Acquisitions and Dispositions Disclosures [Text Block] |
2. | Acquisition and Divestitures
Acquisition of Guadalupe Energy Center On February 26, 2014, we, through our indirect, wholly-owned subsidiary Calpine Guadalupe GP, LLC, completed the purchase of a power plant owned by MinnTex Power Holdings, LLC with a nameplate capacity of 1,050 MW, for approximately $625 million, excluding working capital adjustments. The addition of this modern, natural gas-fired, combined-cycle power plant increased capacity in our Texas segment which is one of our core markets. The 110-acre site, located in Guadalupe County, Texas, which is northeast of San Antonio, Texas, includes two 525 MW generation blocks, each consisting of two GE 7FA combustion turbines, two heat recovery steam generators and one GE steam turbine. We also paid $15 million to acquire rights to an advanced development opportunity for an approximately 400 MW quick-start, natural gas-fired peaker. We funded the acquisition with $425 million in incremental CCFC Term Loans and cash on hand. See Note 4 for a further description of the incremental CCFC Term Loans. The purchase price was primarily allocated to property, plant and equipment. Although the purchase price allocation has not been finalized, we do not expect to record any material adjustments to the preliminary purchase price allocation nor do we expect to recognize any significant goodwill as a result of this acquisition. The pro forma incremental impact of Guadalupe Energy Center on our results of operations for the three months ended March 31, 2014 and 2013 is not material. Sale of Six Southeast Power Plants On April 17, 2014, we entered into a purchase and sale agreement, through our indirect wholly-owned subsidiaries, Calpine Project Holdings, Inc. and Calgen Expansion Company, LLC, to sell six of our power plants in the Southeast segment. The purchase and sale agreement allows for the sale of 100% of the limited liability company interests in (i) Mobile Energy LLC, (ii) Santa Rosa Energy Center, LLC, (iii) Carville Energy, LLC, (iv) Decatur Energy Center, LLC, (v) Columbia Energy LLC and (vi) Calpine Oneta Power, LLC and thereby sell assets comprising 3,498 MW of combined-cycle generation capacity in Oklahoma, Louisiana, Alabama, Florida and South Carolina for a purchase price of approximately $1.57 billion in cash, subject to working capital and other adjustments. The divestiture of these power plants will better align our asset base with our strategic focus on competitive wholesale markets. We expect to record a gain on sale of assets, net between approximately $725 million and $775 million depending upon the timing of closing which is targeted during the second quarter of 2014, subject to regulatory approvals. We expect to use existing federal and state NOLs to almost entirely offset the projected taxable gains from the sale. The six power plants included in the transaction are as follows:
Plant Name |  | Plant Capacity |  | Location
Oneta Energy Center |  | 1,134 |  | MW |  | Broken Arrow, OK
Carville Energy Center(1) |  | 501 |  | MW |  | St. Gabriel, LA
Decatur Energy Center |  | 795 |  | MW |  | Decatur, AL
Hog Bayou Energy Center |  | 237 |  | MW |  | Mobile, AL
Santa Rosa Energy Center |  | 225 |  | MW |  | Pace, FL
Columbia Energy Center(1) |  | 606 |  | MW |  | Calhoun County, SC
Total |  | 3,498 |  | MW |  |
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(1) | Indicates combined-cycle cogeneration power plant.

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- Definition The entire disclosure for business combinations, including leverage buyout transactions (as applicable), and divestitures. This may include a description of a business combination or divestiture (or series of individually immaterial business combinations or divestitures) completed during the period, including background, timing, and assets and liabilities recognized and reclassified or sold. This element does not include fixed asset sales and plant closings. + References No definition available. + Details
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