Calpine Corp (CPN.N) Company Profile | Reuters.com
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Profile: Calpine Corp (CPN.N)

CPN.N on New York Stock Exchange

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Calpine Corporation, incorporated on June 27, 1996, is a power generation company. The Company is engaged in the ownership and operation of primarily natural gas-fired and geothermal power plants in North America. The Company's segments include West (including geothermal), Texas and East (including Canada). In the Northeast and Mid-Atlantic regions, the Company has generating units capable of burning either natural gas or fuel oil. The Company operates its business through various divisions and subsidiaries.

The Company's portfolio consists of various types of power generation technologies, including natural gas-fired combustion turbines, which include combined-cycle plants and renewable geothermal conventional steam turbines. Its Geysers Assets located in northern California represent the geothermal power generation portfolio in the United States, as well as the producing power generation asset of all renewable energy in the state of California. The Company sells power, steam, capacity, renewable energy credits and ancillary services to its customers, which include utilities, independent electric system operators, industrial and agricultural companies, retail power providers, municipalities and other governmental entities, power marketers, as well as retail commercial, industrial and residential customers.

The Company purchases primarily natural gas and some fuel oil as fuel for power plants and engages in related natural gas transportation and storage transactions. The Company purchases electric transmission rights to deliver power to its customers. It is engaged in the retail market through retail subsidiary, Champion Energy. It has investments in clean power generation to develop, construct, own and operate a portfolio of reliable power plants.

The Company owns over 80 power plants, including approximately one under construction, with an aggregate generation capacity of over 27,280 megawatts (MW) and over 750 MW under construction. The Company's fleet, including projects under construction, consists of over 65 natural gas-fired combustion turbine-based plants, approximately one fuel oil-fired steam-based plant, over 10 geothermal steam turbine-based plants and approximately one photovoltaic solar plant. The Company's segments have an aggregate generation capacity of approximately 7,425 MW in the West, approximately 9,420 MW in Texas and approximately 10,430 MW with an additional approximately 760 MW under construction in the East. Its portfolio of projects under construction and advanced development include Garrison Energy Center, York 2 Energy Center, Texas City Power Plant, King City Cogeneration Plant, Los Medanos Energy Center, Brazos Valley Power Plant, Guadalupe Peaking Energy Center and Mankato Power Plant Expansion.

The Company's natural gas-fired power plants types of designs include over 2,250 MW of simple-cycle combustion turbines and over 23,560 MW of combined-cycle combustion turbines, as well as a portion from conventional natural gas/oil-fired boilers with steam turbines. At approximately 15 of its power plants, the Company also produces thermal energy (primarily steam and chilled water), which can be sold to industrial and governmental users. These plants are called combined heat and power facilities. Its Steam Adjusted Heat Rate includes all fuel required to dispatch the Company's power plants, including start-up and shut-down fuel, as well as all non-steady state operations. Additionally, the Company also sells steam from combined heat and power plants.

The Company's Geysers Assets includes approximately 725 MW fleet of over 10 operating power plants in northern California. It injects water back into the steam reservoir, which extends the useful life of the resource and helps to maintain the output of Geysers Assets. The Company receives and injects an average of approximately 10 million gallons of reclaimed water per day into the geothermal steam reservoir at The Geysers where the water is naturally heated by the Earth, creating additional steam to fuel Geysers Assets.

The Company leases the geothermal steam fields from which it extract steam for Geysers Assets. It has leasehold mineral interests in approximately 105 leases comprising approximately 29,000 acres of federal, state and private geothermal resource lands in The Geysers region of northern California. Its leases cover approximately one contiguous area of property that comprises approximately 45 square miles in the northwest corner of Sonoma County and southeast corner of Lake County. The Company also has approximately four MW of capacity from solar power generation technology at its Vineland Solar Energy Center in New Jersey. The Company provides operations and maintenance services for the power plants in which it holds an interest. Its services include the operation of power plants, geothermal steam fields, wells and well pumps, and natural gas pipelines. It also supervises maintenance, materials purchasing and inventory control; manages cash flow; trains staff, and prepares operations and maintenance manuals for each power plant that it operates.

Company Address

Calpine Corp

717 Texas St Ste 1000
HOUSTON   TX   77002
P: +1713.8302000
F: +1302.6365454

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