Constellation Energy announced it has received regulatory approval from the New York State Public Service Commission (PSC) for its acquisition of Calpine Corporation. This approval is a crucial step in advancing the transaction, which aims to create America's leading reliable and clean energy provider.
The New York PSC's endorsement follows earlier regulatory clearance from Texas' Public Utilities Commission. This combined progress significantly de-risks the $26.6 billion acquisition, which will unite Constellation's zero-emissions nuclear fleet with Calpine's low-emission natural gas and geothermal assets.
The transaction is still awaiting approval from the Federal Energy Regulatory Commission and the Department of Justice, along with other customary closing conditions. The expected closing remains in the fourth quarter of 2025, positioning the combined entity to meet growing demand for sustainable power across the nation.
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