Constellation Energy (CEG) agreed to acquire privately-held energy company Calpine in a cash-and-stock deal for a net price of $26.6 billion, including debt. Constellation will purchase Calpine, which produces electricity from natural gas and geothermal resources,

Constellation is buying power natural gas and geothermal power provider Calpine in a cash-and-stock deal valued at approximately $16.4 billion, joining together two of the country’s biggest power companies.

America’s largest nuclear power plant operator has agreed to buy Texas-headquartered geothermal and natural gas producer Calpine in a $26.6 billion which includes both cash and stock components. The deal highlights the role that natural gas is likely to play in meeting fast-rising US electricity demand.

Combined, they will have a capacity of 60 gigawatts from nuclear, natural gas, geothermal, hydro, wind, solar, cogeneration and battery storage.

Constellation Energy, a major US nuclear power plant operator, has agreed to buy another electricity producer, Calpine, for nearly $27 billion, the two firms announced Friday.

The combined entity would have almost 60 GW of generating capacity from zero- and low-emission sources, including nuclear, natural gas, geothermal, hydro, wind, solar and batteries.

Constellation is buying natural gas and geothermal power provider Calpine for $16.4 billion, joining together two of the country's biggest power companies.

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