Constellation–Calpine Merger: Why Geothermal and Firm Clean Power Now Matter More Than Ever By: Robert Buluma The U.S. electricity sector is entering a defining moment, one where scale, regulatory scrutiny, and the search for firm clean power, are converging. The approval of Constellation’s $26.6 billion acquisition of Calpine is not just a headline-grabbing merger; it is a powerful signal about the future structure of power markets and the growing strategic value of geothermal energy and other always-on renewables. As federal regulators force divestments, allow unprecedented scale, and reassert antitrust authority, one question becomes unavoidable: **where does geothermal fit in a power system increasingly dominated by mega-utilities? The Deal,and Why It Matters for Clean Baseload To close the acquisition, Constellation agreed to divest six power plants and a minority stake in a seventh across Texas, Pennsylvania, and Delaware. These concessions were demanded by federal regulators c...
#1 source for global geothermal developments, technology, and analysis.