Calpine’s Geothermal Operations Receive Eighth Consecutive Award from California Department of Conservation

Calpine Corporation (NYSE:CPN) was recently recognized by the California Department of Conservation (DOC) for its ongoing commitment to safety and the environment and its excellence in lease maintenance at its geothermal facilities at The Geysers in Northern California.

The DOC presented Calpine’s Geysers geothermal operations with its eighth consecutive Outstanding Lease Maintenance Award for environmental stewardship, safety, infrastructure maintenance and resource conservation. Mike Rogers, Calpine’s Senior Vice President, Geothermal Region, accepted the award on behalf of Calpine from DOC Director Bridgett Luther.

“Renewable energy is vital to California’s future, and it is encouraging that Calpine, the nation’s largest geothermal producer, consistently maintains its facility at The Geysers in an environmentally sound manner. The Department of Conservation is pleased to recognize companies that manage their facilities in a responsible way and congratulates Calpine on its eighth consecutive lease award,” Luther said.

“We are very pleased that for the eighth year in a row The Geysers has been recognized for exemplary performance in maintaining leases that are environmentally clean and safe,” Rogers said. “We take seriously our responsibilities to put forth our best efforts to protect the environment and act as good neighbors in the community. This award is a testament to the team spirit and effort by our employees at The Geysers.”

The Geysers, the world’s largest geothermal field, is located in Northern California along the Sonoma and Lake County border. Calpine’s operations at The Geysers span over forty square miles where the company currently owns and operates 15 geothermal plants. Calpine provides approximately 725 megawatts of generating capacity to northern California’s power grid. This represents about 20 percent of California’s total renewable energy production, and Calpine is the largest producer of electricity from geothermal resources in the United States.

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 more than 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-fired 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, 2008, and its Quarterly Report on Form 10-Q for the quarter ended March 31. These filings are available by visiting the Securities 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.

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