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Calpine Receives EPA Greenhouse Gas Reduction Recognition

03/04/2009

HOUSTON & SAN JOSE, Calif.--(BUSINESS WIRE)--Mar. 4, 2009-- Calpine Corporation (NYSE:CPN) has been recognized by the U.S. Environmental Protection Agency’s (EPA) Combined Heat and Power (CHP) Partnership for its contributions to efficient domestic energy production and reduced carbon dioxide emissions. According to the EPA, “CHP is one of the most promising options in the US energy efficiency portfolio.”

Calpine has the largest fleet of CHP, also known as cogeneration, plants in the U.S. The 2008 Greenhouse Gas Reduction Report issued by the EPA estimated that the high efficiency of Calpine’s 32 CHP projects produced an estimated 65.066 million metric tons of carbon equivalents less than typical separate heat and power sources. The overall carbon emission reductions realized by Calpine’s clean and efficient power plants is equivalent to 4,993,842 acres of pine or fir forests storing carbon for one year or the emissions from 4,021,866 passenger vehicles.

“This report by the EPA clearly demonstrates that Calpine’s CHP fleet reduces greenhouse gas emissions and helps address climate change,” said Calpine President and CEO Jack Fusco . “Calpine, which also owns the country’s largest geothermal generation facility, is committed to protecting and preserving our environment through the production of clean and efficient electric power.”

In its publication Combined Heat and Power: Effective Energy Solutions for a Sustainable Future, the EPAnotes that “CHP solutions represent a proven and effective near-term energy option to help the United States enhance energy efficiency, ensure environmental quality, promote economic growth, and foster a robust energy infrastructure. Using CHP today, the United States already avoids more than 1.9 Quadrillion British thermal units (Quads) of fuel consumption and 248 million metric tons of carbon dioxide (CO2) emissions annually compared to traditional separate production of electricity and thermal energy. This CO2 reduction is the equivalent of removing more than 45 million cars from the road. In addition, CHP is one of the few options in the portfolio of energy alternatives that combine environmental effectiveness with economic viability and improved competitiveness.”

About Calpine

Calpine Corporation is helping meet the needs of an economy that demands more and cleaner sources of electricity. Founded in 1984, Calpine is a major U.S. power company, currently capable of delivering over 24,000 megawatts of clean, cost-effective, reliable and fuel-efficient electricity to customers and communities in 16 states in the United States and Canada. Calpine owns, leases, and operates low-carbon, natural gas-fueled, and renewable geothermal power plants. Using advanced technologies,Calpine generates electricity in a reliable and environmentally responsible manner for the customers and communities it serves. Please visit www.calpine.com for more information.

Forward-Looking Information

In addition to historical information, this release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Words such as "believe," "intend," "expect," "anticipate," "plan," "may," "will" and similar expressions identify forward-looking statements. Such statements include, among others, those concerning expected financial performance and strategic and operational plans, as well as assumptions, expectations, predictions, intentions or beliefs about future events. You are cautioned that any such forward-looking statements are not guarantees of future performance and that a number of risks and uncertainties could cause actual results to differ materially from those anticipated in the forward-looking statements. Please see the risks identified in this release or in Calpine's reports and registration statements filed with the Securities and Exchange Commission, including, without limitation, the risk factors identified in its Annual Report on Form 10-K for the year ended December 31, 2007, and its Quarterly Report on Form 10-Q for the quarter ended September 30, 2008. These filings are available by visiting theSecurities and Exchange Commission's web site at www.sec.gov or Calpine's web site at www.calpine.com. Actual results or developments may differ materially from the expectations expressed or implied in the forward-looking statements, and Calpine undertakes no obligation to update any such statements.

Source: Calpine Corporation

Calpine Corporation

Media Relations:
Norma F. Dunn, 713-830-8883
norma.dunn@calpine.com

Investor Relations:
Andre Walker, 713-830-8775
andrew@calpine.com