DOW JONES NEWSWIRES
Calpine Corp. (CPN) has been given approval to build the
nation's first power plant with a federal limit on greenhouse-gas
emissions, which the company says puts it "at the forefront of the
fight against global warming."
The California independent power producer said it received a
permit from a Bay Area regulator that "is the final regulatory
approval needed" to move forward with establishing a limit on
carbon-dioxide and other greenhouse-gas emissions from the
company's planned 600-megawatt Russell City Energy Center in
Hayward, Calif.
Construction on the plant is expected to begin later this
year.
By using environmentally responsible technologies, plants "such
as Russell City Calpine will help meet California's growing demand
for electricity while dramatically decreasing emissions," said
President and Chief Executive Jack Fusco.
The Russell City plan is expected to produce about 50% fewer
greenhouse-gas emissions than the most-advanced coal-fired plans
and 25% fewer emissions than the standard required by the
California Public Utilities Commission, Calpine said.
California in recent years has put in place regulations
requiring power companies to adopt more environmentally friendly
operations.
Shares of Calpine closed Wednesday at $11.36 and were inactive
premarket. They are up 48% the past year.
-By Nathan Becker, Dow Jones Newswires; 212-416-2855;
nathan.becker@dowjones.com;