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8 March 2007 -- Calpine Corp. has received approval from the U.S. Bankruptcy Court, Southern District of New York, for the sale of substantially all of the assets of its subsidiary Power Systems Mfg., LLC (PSM) to Alstom Power Inc. for a cash purchase price of $242 million.

Calpine said it will continue to purchase, on a preferential basis from PSM, turbine parts to be used in certain of Calpine's combustion gas turbines throughout the company's fleet.

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