Calpine generates power through natural gas (largest fleet of natural gas power plants in the U.S. ) and geothermal plants (Americas largest generator of geothermal, all plants are located in Northern California a few hours north of San Francisco and a few hours south of Oregon) and "sells wholesale power, steam, capacity, renewable energy credits and ancillary services to its customers, including industrial companies, retail power providers, utilities, municipalities, independent electric system operators, marketers and others. The Company’s portfolio comprises two types of power generation technologies: natural gas-fired combustion turbines (primarily combined-cycle) and renewable geothermal conventional steam turbines"1, 2, 3.
1. "Calpine has the most environmentally friendly power plant fleet in the world. All of its plants are either fueled by clean natural gas or renewable geothermal steam. Calpine has the largest, cleanest, most fuel-efficient fleet of gas-fired power plants in North America."1.
2. "Providing clean, reliable power for more than 25 years"2.
3. "Calpine continues to show its commitment by developing and maintaining strong relationships with surrounding communities"3.
1. The geysers in northern California that Calpine has placed a geothermal plant on top of are said to reside on top of a sacred site for the indigenous people of the area.
1. The power generated by Calpine is estimated to power 24M households in the U.S.1.
2. HQ in Houston, TX, though it was founded in San Jose in 1984
3. Underwent a chapter 11 bankruptcy filing in 2005. Calpine had $17B in debt at the time, and was unable to pay its loans or bond holders. They were seeking an aggressive debt-based growth acquisition and growth strategy2.