Governor Markell, Federal, State and Local Officials Join Calpine CEO for Garrison Energy Center Groundbreaking

  Governor Markell, Federal, State and Local Officials Join Calpine CEO for
  Garrison Energy Center Groundbreaking

Business Wire

DOVER, Del. -- June 25, 2013

Delaware Governor Jack Markell along with federal, state, Kent County and City
of Dover officials and other dignitaries today joined Calpine Corporation
(NYSE:CPN) Chief Executive Officer Jack Fusco in celebrating the
groundbreaking of the Garrison Energy Center, a 309-megawatt power plant to be
built in the Garrison Oak Technology Park in Dover, Delaware. Construction is
expected to be completed by the second quarter of 2015.

“When Calpine opened its regional headquarters in Delaware in late 2010, the
Company announced its commitment to cleaner energy by converting the Edge Moor
Energy Center from coal to natural gas as a fuel,” said Governor Markell.
“Today, we celebrate Calpine’s continuing commitment to Delaware’s economy and
environment by breaking ground on a new natural gas power-generating project.
It’s cleaner power that’s better for the environment and better for Delaware.”

“Calpine’s Garrison Energy Center will be a state-of-the-art, natural
gas-fired power plant producing reliable, affordable, clean power for central
Delaware,” said Jack Fusco, Calpine’s Chief Executive Officer. “This is a
win-win project made possible by the collaborative efforts between Calpine and
the various stakeholders including the state and local authorities. This
project also demonstrates the benefits of competitive electric markets by
helping to ensure that Delawareans are not burdened with above-market costs
associated with subsidized contracts, as has been the case in surrounding
states, and that Delaware continues to have a competitive advantage in
attracting business and jobs.”

“The groundbreaking and associated construction of the Garrison Energy Center
marks a major milestone for the City of Dover,” said Mayor Carleton E. Carey
Sr. “It is with great pride that we welcome Calpine as it builds the anchor
facility at the Technology Park. The construction of this modern power plant
helps fulfill our vision for the park. We appreciate the economic boost
Calpine is helping to deliver to our area and look forward to the operation of
this energy-efficient facility.”

“In bringing its Garrison Energy Center to Dover, along with more than 250
construction jobs and 16 permanent operating jobs, Calpine will be tapping
into a Kent County employment base that is ready to roll up its sleeves and
get to work,” said Alan Levin, Chairman of the New Jobs Infrastructure Fund
and Director of the Delaware Economic Development Office. “And, in Calpine,
Dover and the surrounding area will be welcoming a company that cares about
the community it serves.”

A $2.5 million grant from the New Jobs Infrastructure Fund will help fund the
construction of a six-mile natural gas pipeline extension to the Garrison Oak
Technology Park. In addition to providing fuel to the plant, this pipeline
will help spur development of other businesses in the park and improve the
availability of natural gas for other businesses and consumers in central
Delaware.

“With the conversion of the old Edge Moor power plant, Calpine made a
significant contribution to improving Delaware’s air quality while providing
cleaner power,” added Collin O’Mara, Secretary of the Delaware Department of
Natural Resources and Environmental Control. “With the Garrison Energy Center,
Calpine is providing central Delaware with a brand new source of clean power
that will contribute to lower energy prices and a healthier environment for
Delawareans for many years to come.”

About Calpine

Calpine Corporation generates more electricity than any other independent
power producer in America, with a fleet of 93 power plants in operation or
under construction, representing more than 27,000 megawatts of generation
capacity. Serving customers in 20 states and Canada, we specialize in
developing, constructing, owning and operating natural gas-fired and renewable
geothermal power plants that use advanced technologies to generate power in a
low-carbon and environmentally responsible manner. Our clean, efficient,
modern and flexible fleet is uniquely positioned to benefit from the secular
trends affecting our industry, including the abundant and affordable supply of
clean natural gas, stricter environmental regulation, aging power generation
infrastructure and the increasing need for dispatchable power plants to
successfully integrate intermittent renewables into the grid. We focus on
competitive wholesale power markets and advocate for market-driven solutions
that result in nondiscriminatory forward price signals for investors. Please
visit www.calpine.com to learn more about why Calpine is a generation ahead –
today.

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 Dec. 31, 2012.
These filings are available by visiting the Securities and Exchange
Commission’s website at www.sec.gov or Calpine’s website 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.

Contact:

Calpine Corporation
Media Relations:
Norma F. Dunn, 713-830-8883
norma.dunn@calpine.com
or
Investor Relations:
Bryan Kimzey, 713-830-8775
bryan.kimzey@calpine.com
or
State Contact:
Joanna Wilson, 302-739-9902
Joanna.Wilson@state.de.us
or
City Contact:
Kay Sass, 302-736-7003
kdietzsass@dover.de.us
 
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