CEG · 10-Q · 2026Q2 · Full report
Acquisitions and Divestitures
Constellation Energy Corp · 2026-08-06 · Importance 90 · Surprise 100 · In source text
In March 2026, Constellation agreed to sell five PJM natural-gas generating facilities totaling approximately 4.4 GW to LS Power for $5.0 billion before closing adjustments. In August 2026, it agreed to divest the 606 MW Brazos Valley Energy Center in ERCOT for $860 million before closing adjustments. The transactions are intended to satisfy regulatory commitments from the Calpine acquisition, require applicable regulatory approvals, and are expected to close by the end of 2026.
Key facts
- Includes Electric and CWIP assets acquired as a result of the Calpine acquisition of $17,247 million and $1,234 million, respectively. source
- The Company acquired 100% of Calpine on January 7, 2026 for a purchase price of approximately $21.8 billion consisting of 50 million newly issued shares of common stock and approximately $4.5 billion in cash on hand. source
Impact estimates
| metric | direction | stage | expected | basis |
|---|---|---|---|---|
| assets | positive | realized | +17.6% | Includes Electric and CWIP assets acquired as a result of the Calpine acquisition of $17,247 million and $1,234 million, respectively. |
| cash | negative | realized | -4.6% | The Company acquired 100% of Calpine on January 7, 2026 for a purchase price of approximately $21.8 billion consisting of 50 million newly… |
| assets | positive | realized | +1.3% | Includes Electric and CWIP assets acquired as a result of the Calpine acquisition of $17,247 million and $1,234 million, respectively. |