Calpine’s The Geysers Wins Ninth Consecutive Environmental Award from California Department of Conservation

For the ninth year in a row, Calpine’s geothermal operations at The Geysers is the winner of the California Department of Conservation (DOC) award for its ongoing commitment to safety and the environment and its excellence in lease maintenance.

“I’m proud to once again recognize Calpine for its efforts to enhance safety and practice environmental stewardship at The Geysers,” California Department of Conservation Director Bridgett Luther said. “This is becoming something of a tradition: This is the ninth consecutive year that Calpine has received an outstanding field lease and facility maintenance award. The company’s leadership and the facility’s employees are to be congratulated for serving as a role model to industry.”

Mike Rogers, Calpine’s Senior Vice President, Geothermal Region, will accept the award on behalf of Calpine from Elena Miller, State Oil and Gas Supervisor California Department of Conservation.

“We are very pleased that for the ninth 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.”

Calpine Corporation is the nation’s largest renewable geothermal power producer. The company operates 15 geothermal power plants in The Geysers region of Northern California and is capable of generating up to 725 megawatts of green energy around the clock. Calpine uses a natural, clean energy source - heat from the earth’s interior - to produce electricity. Because geothermal power plants do not burn fossil fuel, they have an inherent environmental advantage and are helping meet California’s clean air goals. Calpine’s operations at The Geysers accounts for about 20 percent of the green power (non-hydro) produced in California.

The Geysers provides substantial long-term support to local economies through wages, purchase of supplies and services, property taxes and royalties. The project also provides support to community improvement projects, supports local 911 services and encourages many volunteer efforts by its employees.

Recognizing the importance of The Geysers, Calpine is expanding and sustaining production from this renewable resource through wastewater recharge projects in which clean, reclaimed wastewater from local municipalities is recycled into the geothermal resource where it is converted into steam for electricity production. This provides an environmentally sound wastewater discharge solution for neighboring cities and increases the long-term productivity of The Geysers resource.

This year marks the 50th Anniversary of construction on the original power plant at The Geysers – the first commercial geothermal plant in the United States. Calpine is planning a series of events to celebrate this historic achievement.

To learn more about The Geysers and about geothermal energy, visit the Calpine Geothermal Visitors Center in Middletown. Since opening in 2001, the Visitors Center has received over 60,000 visitors from all 50 states and 77 countries from all over the world. Visitors come to learn about Calpine, The Geysers and the vital role of geothermal energy in California’s energy portfolio. For more information, please call 1-866-GEYSERS or visit www.geysers.com

Calpine at The Geysers

Calpine’s 15 operating Geysers power plants in Northern California sit on the largest geothermal field in the world and are the largest baseload renewable power resource in the U.S. Calpine’s Geysers plants generate approximately 21% of California’s renewable energy. Given the increasing importance of renewable energy – particularly in California, which is setting the precedent for national renewable portfolio standards – Calpine’s geothermal plants fill a vital role. Available every minute of every day and posing none of the grid integration challenges of other renewable resources, these plants are one reason Calpine is a generation ahead, today. For more information, please contact the center by telephone at 1-866-GEYSERS or check the Website at www.geysers.com.

About Calpine

Founded in 1984, Calpine Corporation is a major U.S. power company, currently capable of delivering nearly 25,000 megawatts of clean, cost-effective, reliable and fuel-efficient power to customers and communities in 16 states in the United States and Canada. Calpine Corporation is committed to helping meet the needs of an economy that demands more and cleaner sources of electricity. Calpine owns, leases and operates low-carbon, natural gas-fired and renewable geothermal power plants. Using advanced technologies, Calpine generates power in a reliable and environmentally responsible manner for the customers and communities it serves. Please visit our website at 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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