“This isn’t just about two great companies coming together — it’s about strengthening America’s future,” said Joe Dominguez, president and CEO of Constellation. “Constellation is stepping up to power America’s growth when our nation’s demand for energy is surging, and our global competitors are racing to capture AI leadership. By uniting Constellation and Calpine, we’re providing the reliable, clean energy that keeps our communities strong, our businesses competitive and our nation secure.”

Andrew Novotny, president and CEO of Calpine, said, “This is an exciting day for both our companies and for the customers and communities we serve. We have the assets that power America today and meet the needs of tomorrow. Our expanded capabilities will allow us to better serve customers and communities, enable investment in critical infrastructure and support national priorities for energy security, economic competitiveness and technological leadership. Our teams share a relentless commitment to safety, sustainability and operational excellence, and I’m excited about what we will accomplish together.”

“As a decades-long investor in power generation, ECP aims to unlock value, drive long-term growth opportunities and strengthen asset reliability — often serving as a bridge between public and private markets,” said Tyler Reeder, president and managing partner of ECP. “We are proud to have achieved those goals in partnership with Calpine’s management team and believe this combination validates that vision, setting the company up for future success while meeting the evolving needs of its customers, communities and the U.S.’s electrical grid.”