© 2013 The Texas Lawbook.
By Natalie Posgate
Staff Writer for The Texas Lawbook
(December 2) – Houston-based Calpine Corporation announced Monday that it has agreed to purchase a nominal 1,050 megawatt combined-cycle power plant near San Antonio for $625 million from MinnTex Power Holdings, LLC, a portfolio company owned by Minnesota-based Wayzata Investment Partners LLC.
Vinson & Elkins is representing Wayzata, with Houston partner Trina Chandler and New York partner Caroline Blitzer Phillips as the lead attorneys. Also assisting are Houston associates Ashley Tufts and Matthew Greenberg.
In 2011, Chandler advised Wayzata when it purchased approximately 583 MW Unit 1 Power Block at the 2,320 MW Gila River Power Station in Arizona from a subsidiary of Entegra Power Group LLC.
New York firm White & Case is representing Calpine on the transaction.
The deal is expected to close in the first quarter of 2014 and Calpine expects to fund the transaction with cash on hand.
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