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General News

Oct. 11, 2016

Calpine acquires commercial electricity supplier NAES

NAES will remain headquartered in San Diego and continue to operate under the leadership of its president, Jim Wood.

Houston-based Calpine Corp. recently entered into an agreement to purchase Noble Americas Energy Solutions (NAES), an independent supplier of commercial and industrial electricity headquartered in San Diego.

Calpine acquired NAES for $800 million plus an estimated $100 million of net working capital at closing.

"We are excited to be acquiring the best commercial and industrial direct energy sales platform in the U.S.," said Thad Hill, Calpine's president and chief executive o...

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