Connect with us

News

Constellation Energy in talks to buy Calpine in near-$30bn US power sector deal

Published

on

Constellation Energy in talks to buy Calpine in near-bn US power sector deal

Unlock the Editor’s Digest for free

Constellation Energy is in advanced talks to acquire Calpine in a deal valued at up to $30bn, in what could be one of the largest takeovers in the power generation industry, according to people familiar with the matter.

The acquisition of Calpine would also generate a huge windfall for its private equity investors Energy Capital Partners, CPP Investments and Access Industries, who acquired it in 2017 for $17bn including debt.

One person with knowledge of the talks said a deal could be finalised within days and value Calpine at close to $30bn, including debt, making it one of the largest US power and utility deals.

Advertisement

The takeover talks come amid an unprecedented surge in power demand forecasts linked to the rollout of artificial intelligence data centres and reshoring of manufacturing activities, which has caused shares in Baltimore-based utility Constellation to more than double in value over the past year. Constellation shares fell as much as 10 per cent on news of the talks before recovering slightly to close 4.6 per cent lower.

The US electricity system is grappling with a historic rise in power demand after two decades of negligible growth. Consulting firm ICF expects the country’s power consumption to grow by nearly 20 per cent by 2033.

Expectations of surging power demand have been a boon for cheap natural gas-fired generation, which unlike solar and wind is available around the clock. GE Vernova, the largest gas turbine manufacturer, expects orders to have nearly doubled last year. 

Calpine operates a fleet of 78 gas plants and other energy facilities across the US, which generate enough electricity to power about 27mn homes.  

Constellation operates the largest fleet of conventional nuclear reactors in the US and last year announced it planned to reopen the Three Mile Island nuclear plant in Pennsylvania.

Advertisement

The proposed deal indicates Constellation was seeking to complement its nuclear holdings with a large-scale gas fleet “to meet the increasing demand from the growing data centre industry”, said Andrew Gillick, a managing director at energy consultancy Enverus.

Another person with direct knowledge of the matter said a deal could be announced as early as this month.

Consulting firm PwC is forecasting an increase in fossil fuel generation deals under a Republican-controlled White House and Congress, which are expected to promote development of oil and gas projects.

Constellation Energy and Calpine did not immediately respond to requests for comment. Bloomberg first reported news of the talks.

Advertisement

News

Explosion at Lumber Mill in Searsmont, Maine, Draws Large Emergency Response

Published

on

Explosion at Lumber Mill in Searsmont, Maine, Draws Large Emergency Response

An explosion and fire drew a large emergency response on Friday to a lumber mill in the Midcoast region of Maine, officials said.

The State Police and fire marshal’s investigators responded to Robbins Lumber in Searsmont, about 72 miles northeast of Portland, said Shannon Moss, a spokeswoman for the Maine Department of Public Safety.

Mike Larrivee, the director of the Waldo County Regional Communications Center, said the number of victims was unknown, cautioning that “the information we’re getting from the scene is very vague.”

“We’ve sent every resource in the county to that area, plus surrounding counties,” he said.

Footage from the scene shared by WABI-TV showed flames burning through the roof of a large structure as heavy, dark smoke billowed skyward.

Advertisement

The Associated Press reported that at least five people were injured, and that county officials were considering the incident a “mass casualty event.”

Catherine Robbins-Halsted, an owner and vice president at Robbins Lumber, told reporters at the scene that all of the company’s employees had been accounted for.

Gov. Janet T. Mills of Maine said on social media that she had been briefed on the situation and urged people to avoid the area.

“I ask Maine people to join me in keeping all those affected in their thoughts,” she said.

Representative Jared Golden, Democrat of Maine, said on social media that he was aware of the fire and explosion.

Advertisement

“As my team and I seek out more information, I am praying for the safety and well-being of first responders and everyone else on-site,” he said.

This is a developing story. Check back for updates.

Continue Reading

News

Woman killed in Atlanta Beltline stabbing identified

Published

on

Woman killed in Atlanta Beltline stabbing identified

Crime scene tape surrounds a bicycle in front of St. Lukes Episcopal Church in Atlanta on May 14, 2026. (SKYFOX 5)

The woman stabbed to death on the Beltline has been identified as 23-year-old Alyssa Paige, according to the Fulton County Medical Examiner.

The backstory:

Advertisement

Paige was killed by a 21-year-old man Thursday afternoon while she was on the Beltline. Officials confirmed to FOX 5 that the stabbing happened near the 1700 block of Flagler Avenue NE.

Atlanta Police Chief Darin Schierbaum said the department was alerted around 12:10 p.m. that a woman had been stabbed just north of the Montgomery Ferry Drive overpass. She was rushed to Grady Memorial Hospital where she later died. Another person was also stabbed during the incident, but their condition remains unknown.

According to officers, the man responsible attacked a U.S. Postal worker prior to the stabbing before getting away on a bike. He then used that bike to flee the scene of the stabbing as well.

Advertisement

The suspect was arrested near St. Luke’s Episcopal Church on Peachtree Street in Midtown around 5:25 p.m. 

What we don’t know:

Advertisement

While officials haven’t released an official motive, they noted the man may have been suffering a mental health crisis.

The Source: Information in this article came from the Fulton County Medical Examiner’s Office and previous FOX 5 reporting. 

AtlantaCrime and Public SafetyNewsInstastories
Advertisement
Continue Reading

News

Man Charged With Posting Bomb Instructions Used in New Orleans Attack

Published

on

Man Charged With Posting Bomb Instructions Used in New Orleans Attack

Federal prosecutors have filed charges against a former Army serviceman they accused of distributing instructions on how to build explosives that were used by a man who conducted a deadly attack in New Orleans on New Year’s Day last year.

The former serviceman, Jordan A. Derrick, a 40-year-old from Missouri, was charged with one count of engaging in the business of manufacturing explosive materials without a license; one count of unlawful possession of an unregistered destructive device; and one count of distributing information relating to manufacturing explosives, according to a criminal complaint unsealed on Wednesday. The three charges together carry a maximum sentence of 40 years in federal prison.

Starting in September 2023, the authorities said, Mr. Derrick was using various social media sites to share videos of himself making explosive materials, including detonators. His videos provided step-by-step instructions, and he often engaged with viewers in comments, sometimes answering their questions about the chemistry behind the explosives.

The authorities said that Mr. Derrick’s videos were downloaded by Shamsud-Din Bahar Jabbar, 42, who was accused of ramming a pickup truck into a crowd on Bourbon Street in New Orleans on Jan. 1, 2025, in a terrorist attack that killed 14 people and injured dozens. Mr. Jabbar was killed in a shootout with the police. Before the attack, Mr. Jabbar had placed two explosives on Bourbon Street, the authorities said, but they did not detonate.

The authorities later recovered two laptops and a USB drive in a house that Mr. Jabbar had rented. The USB drive contained several videos created by Mr. Derrick that provided instructions on making explosives. The authorities said the explosives they recovered were consistent with the ones Mr. Derrick had posted about.

Advertisement

Mr. Derrick’s lawyers did not respond to requests for comment.

Mr. Derrick was a combat engineer in the Army, where he provided personnel and vehicle support, the authorities said. He also helped supervise safety personnel during demolitions and various operations. He was honorably discharged in February 2013.

The authorities did not say whether Mr. Derrick had any communication with Mr. Jabbar, or whether the men had known each other. In some of Mr. Derrick’s videos and comments, he indicated that he was aware that his videos could be misused.

“There are a plethora of uh, moral, you know, entanglements with topics, any topic of teaching explosives, right?” he asked in one video, according to the affidavit. “Of course, the wrong people could get it.”

The authorities also said that an explosion occurred at a private residence in Odessa, Mo., on May 4, and the occupant of the residence told investigators that he had manufactured explosives after watching online tutorials from Mr. Derrick.

Advertisement

Mr. Derrick’s YouTube account had more than 15,000 subscribers and 20 published videos, the affidavit said. He had also posted content on other platforms, including Odysee and Patreon. Some videos were accessible to the public for free, while others required a paid subscription to view.

“My responsibility to my countrymen is to make sure that I serve the function of the Second Amendment to strengthen it,” Mr. Derrick said in one of his videos, according to the affidavit. “This is how I serve my country for real.”

Outside of the income he received through content creation, Mr. Derrick did not have any known employment. He did receive a monthly disability check from Veterans Affairs, the affidavit stated.

Continue Reading
Advertisement

Trending