Calpine Corporation is the largest generator of electricity from natural gas and geothermal resources in the United States , with operations in competitive power markets.
32-729: A Fortune 500 company based in Houston, Texas , the company is owned by an affiliate of Energy Capital Partners and a consortium of other investors, including Access Industries Inc. and the Canada Pension Plan Investment Board . Through wholesale power operations and its retail businesses, Calpine serves customers in 24 states, Canada , and Mexico . Its fleet of 76 power plants in operation or under construction represents nearly 26,035 megawatts of generation capacity. In 2019, it reported generating 100.8 megawatt hours of electricity, 5% more than in 2018. The name "Calpine"
64-478: A $ 300 million round of funding for the smartphone maker Essential Products , investing $ 100 million in the company. Access Industries formed First Access Entertainment in October 2015, which focuses on talent development and representation in music, entertainment, and fashion. Access Industries invested $ 137 million into Opendoor . Access owns a portfolio of hotels and other commercial and residential properties in
96-521: A North American oil and natural gas producer with a portfolio of fields in the United States and Brazil. On August 18, 2017, Access Industries and a consortium of investors agreed to acquire the energy company Calpine Corporation for $ 5.6 billion. Access Industries previously held stakes in a number of companies in the media and telecommunications industries including Ice (Norway), RGE Group (Israel), Channel 10 (Israel), Noga Communications and
128-628: A city the size of San Francisco . Despite the name of the steam field no natural geysers exist near The Geysers - Clear Lake area. In 1988, the first QF cogeneration plant was commissioned and power production began. In 1992, the company's assets reached US$ 21 billion. In 1994, the company reached capacity output of 141 MegaWatts. In 1996, the company's initial public offering (IPO) was the largest for an independent energy company . In 1998, Calpine purchased 45 gas turbine power plants. The following year it purchased 18 gas turbine power plants and acquired PG&E 's plants at The Geysers , making Calpine
160-468: A film finance and executive production company established in 2013. Since November 2014, Access Industries has owned a majority stake in DAZN Group Limited , a sports media company which Access formed in 2007 by merging Inform and Premium TV . Perform Group owns the sports website Sporting News and launched the sports streaming video service DAZN in 2016. As of 2019, Access held over 85% of
192-674: A group of investors that included Access Industries. Access invested in Warner Music Group (WMG) in 2004 with various co-investors. After a partial sale of WMG was completed through an IPO on the NYSE in May 2005, Access continued as a significant shareholder with a 2 percent stake prior to 2011. Access acquired WMG for US$ 3.3 billion, including $ 320 million in cash and the assumption of $ 2 billion of WMG debt. Access Industries owns AI Film in London,
224-661: A new board was named. Shares of Calpine's common stock stopped trading prior to the March 9, 2018, opening of the New York Stock Exchange. In February 2023, Calpine released plans to begin development for a 425 MW natural gas-fired plant next to the Freestone Energy Center in Freestone County , Texas. In July 2023, Calpine announced a $ 25 million carbon capture technology project. The technology could capture 95% of
256-492: A plant’s carbon emissions, which would reduce greenhouse emissions. The technology was created by ION Clean Energy of Colorado. Fortune 500 The Fortune 500 is an annual list compiled and published by Fortune magazine that ranks 500 of the largest United States corporations by total revenue for their respective fiscal years. The list includes publicly held companies , along with privately held companies for which revenues are publicly available. The concept of
288-521: A total of 29.2 million people worldwide, or nearly 0.4% of the world's total population . The following is the list of top 20 companies. This is the list of the top 18 states with the most companies within the Fortune 500 as of 2024. Access Industries Access Industries, Inc. is a United States–based privately held multinational investment company which was founded in 1986 by businessman Leonard "Len" Blavatnik . Access Industries' focus
320-616: Is derived from the company's original Cal ifornia location and alpine , a reference to the Zürich home base of Electrowatt. Calpine is the largest generator of electricity from natural gas and geothermal resources in the United States. Its grouping of 19 power plants located in a geothermal field outside Sonoma, CA often referred to as " The Geysers " is the largest producer of renewable geothermal power in North America, producing 725 megawatts of electricity , enough to power 725,000 homes or
352-535: Is in seven sectors: biotechnology, entertainment, external funds, global media, strategic equity, technology ventures, and real estate. The group invests in the United States, Europe, Israel, and Latin America. It is headquartered in New York, with offices in London and Mill Valley, California . Len Blavatnik founded Access Industries in 1986 as an investment company. He attended Harvard Business School while running
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#1732863220702384-400: The 96th Academy Awards . In 2015, Access Industries launched Access Technology Ventures, a venture and growth technology investment arm focused on pre-IPO " unicorns ". As of 2017, it had investments in companies including Snapchat , Square , Yelp , Alibaba , Rocket Internet , Deezer , Gett , Spotify , Zalando , and DigitalOcean . In August 2017, Access Technology Ventures led
416-544: The Fortune 500 was created by Edgar P. Smith, a Fortune editor, and the first list was published in 1955. The Fortune 500 is more commonly used than its subset Fortune 100 or superset Fortune 1000 . The Fortune 500, created by Edgar P. Smith, was first published in 1955. The original top ten companies were General Motors , Jersey Standard , U.S. Steel , General Electric , Esmark , Chrysler , Armour , Gulf Oil , Mobil , and DuPont . The original Fortune 500
448-670: The Sports Channel (Israel). Access previously owned a majority stake in Amedia , a large Russian film and TV studio known for shows such as Poor Nastya . Amedia gained exclusive rights to premiere HBO content in Russia in July 2017. More recently, the company has invested in major media companies including Warner Music Group and DAZN . In 2021, Reshet 13 , an Israeli free-to-air television channel operated by Reshet Media, received investment from
480-903: The French music streaming service. In 2018, Access, alongside a consortium of investors, acquired Calpine Corporation for $ 5.6 billion. In 2018, Access bought the Theatre Royal Haymarket , the third oldest theatre in Britain. In the second half of 2022, Access sold its stake in UC Rusal , thereby divesting of its last major asset in Russia. As of 2024, Access Industries continued to have stakes in companies including Warner Music Group , LyondellBasell, DAZN, Calpine Corporation, A24 , Deezer, and Spotter . Among Access Industries' current holdings are businesses in oil, petrochemicals, power generation, aluminum and biotechnology. Access helped form
512-679: The NYSE under the ticker symbol "CPN." Later that year, a new executive leadership team, headed by president and CEO Jack Fusco, joined the company. In 2009, the company moved its corporate headquarters from San Jose, California to Houston, Texas . In 2010, Calpine acquired Conectiv Energy (generation) from Pepco Holdings . In 2010, Calpine dedicated the Geothermal Visitor Center and celebrated 50 years of geothermal power production at The Geysers in Northern California. In 2010, Thad Hill
544-516: The Nasdaq in 2020. In May 2015, Access Industries launched Access Entertainment , a division headed up by former BBC Television boss Danny Cohen which specialises in investing in the entertainment media sector. After investing in Facebook before its IPO, Access exited its Facebook holdings in late 2015. Since 2016, Access has been the majority owner of online sport-streaming service DAZN , and Deezer ,
576-897: The US as of 2023. In 2006, Access Industries took an estimated 70% stake in Top Up TV , a pay TV service in the United Kingdom which sold its subscriber business to Sky in 2013. In 2007, Access Industries purchased a majority stake in the sports media company Perform Group . Also that year, Access became an owner in Acision , a software company focused on messaging systems. Acision was acquired by Comverse in 2015. As of 2010, Access retained ownership in companies such as Icon Film Distribution UK, Perform Group, Top Up TV, Amedia, RGE Group , and Warner Music Group (WMG). On July 20, 2011, Access acquired Warner Music Group for US$ 3.3 billion. WMG listed on
608-413: The US operations of LyondellBasell Industries filed for bankruptcy. With financing in part from Access Industries, in 2010, LyondellBasell emerged from Chapter 11 bankruptcy protection in a significantly improved financial position. With a value of $ 15 billion, it was subsequently ranked as the world's third-largest chemical company based on net sales . Access Industries repurchased a large stake in
640-543: The change came 291 new entrants to the famous list including three in the Top 10. As of 2020, the Fortune 500 companies represent approximately two-thirds of the United States' gross domestic product with approximately $ 14.2 trillion in revenue, $ 1.2 trillion in profits, and $ 20.4 trillion in total market value. These revenue figures also account for approximately 18% of the gross world product . The companies collectively employ
672-471: The company in 2013. As of 2017, Access owned approximately 18% of LyondellBasell. Since 2013, Access Industries has owned Clal Industries Ltd. (CII), an Israeli industrial investment group. Among CII's main investments are Nesher Israel Cement Enterprises, Hadera Paper, Golf & Co., Clal Biotechnology, and the logistics group Taavura. Also since 2013, Access has owned a significant interest in EP Energy,
SECTION 20
#1732863220702704-422: The company in the second half of 2022. This represented the last of its major assets in Russia. In 2005 Access acquired Basell Polyolefins , a Dutch company specializing in polyolefins . On December 20, 2007, Basell acquired the commodity chemicals company Lyondell for approximately $ 20 billion. The resulting company, LyondellBasell Industries , was impacted by the 2008 financial crisis , and in 2009,
736-597: The company on the side, graduating with an MBA in 1989. Among its early investments, Access Industries helped form the large aluminum producer SUAL in 1996, which later became part of UC RUSAL . In 1997, Access acquired a 40% stake in the Russian oil company TNK. Half of TNK was sold to BP to form TNK-BP in 2003, in what was the largest-ever foreign investment in a Russian company. In 2013, Rosneft acquired TNK-BP for $ 55 billion, with Access Industries selling its stake and Blavatnik collecting US$ 7 billion for his share of
768-465: The company. On December 20, Calpine filed bankruptcy with US$ 22 billion in debt. Calpine's expansion plan was unsupportable in the economic environment formed by the 2000-2001 California energy crisis and the collapse of Enron . Stock price dropped to less than US$ 0.30 per share, and was delisted from NYSE. On January 31, 2008, Calpine returned from bankruptcy. The company's previous stock was exchanged for warrants and new Calpine stock began trading on
800-558: The electric provider Champion Energy, expanding channels in its core Texas and Northeastern U.S. markets. In 2016, Calpine acquired Granite Ridge Energy Center in Londonderry, New Hampshire , Frank Cassidy became chairman of the board, and it acquired Noble Group Ltd's North American energy business. In 2018, Calpine was acquired by an affiliate of Energy Capital Partners and a consortium of other investors, including Access Industries Inc. and Canada Pension Plan Investment Board , on March 8
832-524: The group. In May 2015, Access Entertainment was established with the hiring of its president, Danny Cohen, BBC's former director of television. They took a 25% stake in the Bad Wolf international TV firm, and have a financing venture for drama programming with BBC Worldwide /Lookout Point and a development slate deal with House Productions. In April 2017, Access Entertainment purchased James Packer 's ownership share of RatPac Entertainment , which includes
864-471: The joint venture, RatPac-Dune Entertainment. In December 2021, Access Entertainment sold their stake in Bad Wolf to Sony Pictures Television . Access Industries has financed several A24 productions, including the 2023 film The Zone of Interest , which was executive-produced by Len Blavatnik and Danny Cohen of Access Industries. The film won the awards for Best International Feature and Best Sound at
896-501: The large aluminum producer SUAL 1996 with a combination of mergers and acquisitions. In 2007, SUAL merged with RUSAL and the alumina business of Glencore International AG to form UC RUSAL . RUSAL raised $ 2.24 billion in a 2010 IPO on the Hong Kong Stock Exchange , and in 2017 it was the world's largest aluminum producer. Access Industries is no longer a shareholder in UC Rusal , having fully divested of its shares in
928-407: The oil venture. Access Industries purchased a large stake in the fashion label Tory Burch in 2004. In 2005, Access acquired Basell Polyolefins which, after Basell's acquisiton of Lyondell in 2007, became LyondellBasell Industries . The transaction was described by Forbes as "the greatest private equity deal of all time." LyondellBasell Industries was the third largest chemical manufacturer in
960-564: The world's largest geothermal provider. In 2001, the California electric energy crisis occurred. In 2004, the investment bank Lehman Brothers begins shorting Calpine, with researcher Christine Daley lacking confidence in Calpine. This information spreads to clients of Lehman. By the time Calpine goes bankrupt in 2005, Lehman will profit roughly $ 100,000,000 from the short. In November 2005, CEO Peter Cartwright and CFO Bob Kelly step down and left
992-478: Was limited to companies whose revenues were derived from manufacturing, mining, and energy exploration. At the same time, Fortune published companion " Fortune 50" lists of the 50 largest commercial banks (ranked by assets), utilities (ranked by assets), life insurance companies (ranked by assets), retailers (ranked by gross revenues) and transportation companies (ranked by revenues). Fortune magazine changed its methodology in 1994 to include service companies. With
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1024-429: Was named chief operating officer. In 2012, Calpine's power plant fleet generates a record 116 million MWh of electricity. In 2013, Calpine rang the opening bell at the New York Stock Exchange on January 18. In 2014, Jack Fusco became Calpine's executive chairman of the board and Thad Hill became the company's chief executive officer. In 2014, Calpine sold six power plants in its Southeast region. In 2015, Calpine acquired
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