Calpine Corporation to Sell Wind-Based Firm Power Product

Calpine Corporation (NYSE:CPN) today announced that it has entered into a new contract to provide the Los Angeles Department of Water and Power (LADWP) wind integration services. By combining the procurement of intermittent renewable wind generation with the essential backstop of a reliable, flexible natural gas-fired portfolio, Calpine is able to offer an innovative solution to meet the needs of LADWP.

Under the terms of the new short-term contract, Calpine will provide up to 270 megawatts of firm power to LADWP. Calpine will leverage its quick-responding natural gas-fired facility, Hermiston Power Project located in Hermiston, Ore., as well as its contracted transmission resources in the Northwest to integrate the energy output it will purchase from the Windy Point Wind Farm in Klickitat County, Wash.

“We are pleased to have partnered with LADWP in creatively addressing the dilemma created by the intermittent nature of renewable generation,” said Thad Hill, Calpine’s Chief Commercial Officer. “This contract demonstrates the critical role natural gas generation will play in integrating renewable generation into the marketplace and helping California’s load-serving entities meet their renewable energy goals.”

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 nearly 25,000 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. Calpine’s California portfolio includes 38 power plants capable of producing 5,800 megawatts of power – enough to meet the needs of almost six million California households. Please visit www.calpine.com for more information.

Forward-Looking 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 September 30, 2009. 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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