Reports: Energy giant RWE to take a stake in US utility Calpine
Energy giant RWE is set to acquire a stake in U.S. power producer Calpine, according to a report by industry newsletter PeakLoad. RWE is reportedly interested in up to a 49% stake in the U.S. company. RWE had previously announced plans to invest €55 billion worldwide in renewable energy, storage technologies, flexible generation, and hydrogen projects by 2030. An investment in Calpine could accelerate this investment program, PeakLoad reported further. Calpine is active in the renewable energy sector. A RWE spokesperson declined to comment on the report on Friday. RWE shares came under pressure and lost over seven percent in afternoon trading.
Calpine was acquired by financial investors six years ago and they may now be considering selling their stakes, according to a Reuters report from May. Alongside an IPO, a sale of shares is also being considered, insiders said at the time. A transaction could happen as early as this year or in early 2025, it was reported. Energy Capital Partners, Access Industries, and CPP Investments acquired Calpine, which is involved in geothermal energy, among other areas, for $17 billion in 2018.
RWE's potential investment in Calpine could involve collaborating with the US suppliers that Calpine works with in its operations. If the acquisition is successful, RWE might tap into the expertise of these US suppliers to enhance its renewable energy projects.
The potential sale of Calpine's shares could impact the US suppliers that rely on Calpine for business, as any new ownership might bring changes in strategies or business relationships.
