March 8, 2019 / 2:32 PM / a year ago

CORRECTED-BRIEF-Calpine Corp Says Has Several Power Plants That Provide Energy, Energy-Related Products To PG&E

(Corrects headline to add dropped words “to PG&E”; Changes source)

March 8 (Reuters) - Calpine Corp:

* CALPINE CORPORATION - CURRENTLY HAVE SEVERAL POWER PLANTS THAT PROVIDE ENERGY AND ENERGY-RELATED PRODUCTS TO PG&E UNDER PPAS

* CALPINE CORP SAYS SINCE PG&E’S BANKRUPTCY FILING, CO HAS RECEIVED ALL MATERIAL PAYMENTS UNDER PPAS

* CALPINE - ALSO CURRENTLY HAVE NUMEROUS OTHER AGREEMENTS WITH PG&E RELATED TO OPERATION OF POWER PLANTS IN NORTHERN CALIFORNIA

* CALPINE - DUE TO PG&E’S BANKRUPTCY, UNABLE TO MAKE DISTRIBUTIONS FROM RUSSELL CITY, LOS ESTEROS PROJECTS AS PER TERMS OF PROJECT DEBT AGREEMENTS

* CALPINE - PLANTS THAT SELL ENERGY, ENERGY-RELATED PRODUCTS TO PG&E , INCLUDE RUSSELL CITY ENERGY CENTER AND LOS ESTEROS CRITICAL ENERGY FACILITY

* CALPINE-AS OF DEC 31, BALANCE SHEET HAD $1.1 BILLION, $504 MILLION IN NET LONG LIVED ASSETS, NON-RECOURSE PROJECT FINANCE DEBT ASSOCIATED WITH 2 POWER PLANTS

* CALPINE - IF PG&E DOES NOT ASSUME PPAS THROUGH BANKRUPTCY PROCEEDINGS, CO WILL SEE A DEFAULT UNDER RUSSELL CITY, LOS ESTEROS PROJECT DEBT AGREEMENTS Source text for Eikon: Further company coverage: (Reuters.Briefs@thomsonreuters.com)

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