Houston-based Calpine Corp., which confirmed in July it was looking for a buyer, announced August 18 it has agreed to be bought by Energy Capital Partners (ECP) in a $ 5.6 billion deal.

ECP is a private equity firm that focuses on investments in North American energy infrastructure. The purchasing group also includes a consortium of investors led by Access Industries, a New York City-based holding company, and the Canada Pension Plan Investment Board. The deal is expected to close early next year, according to the companies.

“We are excited to partner with Energy Capital,” said Thad Hill, Calpine’s president and CEO, in a statement after the deal was announced. “With ECP, Calpine will be able to operate as it always has, executing on our strategic objectives of providing safe and reliable power and serving our retail and wholesale customers with differentiated products and services.”

Calpine in July confirmed that it was looking for a buyer, two months after reports surfaced that the company was working with investment bankers to facilitate a sale.…

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