Calpine to Buy Stakes in N.Y. Power Plants

San Jose-based Calpine Corp. said it will buy Brooklyn Union Gas Co.’s interests in four New York power plants for about $102 million, a deal that would allow Calpine to expand into electricity sales in the Northeast. The transaction, expected to close in the fourth quarter, would give Calpine 50% of a plant at New York’s John F. Kennedy International Airport and stakes in two plants on Long Island and another in Lockport. Together, the stakes would give Calpine enough power to light about 338,000 homes. Calpine shares rose 6 cents to close at $19.06; Brooklyn Union rose 13 cents to close at $29.56. Both trade on the New York Stock Exchange.