New owner of Conectiv Energy opens regional HQ

The new owners of Conectiv Energy got an official welcome in Delaware Wednesday, as Calpine opened its regional headquarters in Wilmington. 

Calpine acquired Conectiv Energy from Pepco Holdings for $1.63 billion in June.

Calpine President and Chief Executive Officer Jack Fusco also announced that the power producer would seek to develop gas-fired generation capacity at the Edge Moor site. 

“We believe that our actions define who we are,” Fusco said.

If Calpine is the successful bidder in a regional auction for new generating capacity, the new facility could be operating in the summer of 2014.

Calpine is the nation’s largest independent power producer.  Wilmington is the hub for its North Region operations, which includes ten states.  It has decided to run the Hay Road facility, and the Deepwater plant in Pennsville New Jersey, on natural gas instead of coal.

Governor Jack Markell said Calpine’s decision is “a win for Delaware’s economy and environment.”  Delaware Economic Development Office Secretary Alan Levin said Calpine “recognized the value of our uniquely friendly business environment, strategic location and talented workforce.”

The Calpine Corporate Foundation also presented a $25,000 check to the Delaware Nature Society toward its educational programs.

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