White & Case Represents Calpine in $1.65 Billion Acquisition

New York, April 22, 2010 ... Global law firm White & Case LLP served as legal advisor to Calpine Corporation in its $1.65 billion purchase of 4,490 megawatts (MW) of power generation assets from Pepco Holdings, Inc. (PHI). The purchase of Pepco's Conectiv Energy fleet, which includes 18 operating power plants and one plant under construction, is expected to close by June 30, 2010, subject to approval by the US Federal Energy Regulatory Commission and competition regulators.

Calpine is a leading North American power company serving wholesale and industrial customers in the United States and Canada. It owns, leases and operates low-carbon, natural gas-fired and renewable geothermal power plants.

Leading the deal was M&A partner Michael Shenberg. He was assisted by partners Gregory Pryor (M&A, New York), William Dantzler (Tax, New York), H. Wlliam Walker (Real Estate, Miami), Ken Raskin (Executive Compensation, Benefits and Employment, New York), Larry Gannon (Asset Finance, New York), Stu Caplan (Energy, New York), Rick Horsch, (Environmental, New York), David Joyce (Bank Finance, New York), Roger Noble (Real Estate, New York) and James Hayden (Tax, New York).

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