Release date- 02102015 - DOVER, Delaware - Delaware Governor Jack Markell, along with federal, state, county and City of Dover officials and other dignitaries, today joined Calpine Corporation (NYSE:CPN) Executive Chairman Jack Fusco and Chief Executive Officer Thad Hill in dedicating the Garrison Energy Center, a new 309-megawatt combined-cycle power plant at the Garrison Oak Technology Park in Dover, Delaware.
'Today's celebration is a credit to the innovation and ingenuity demonstrated by Calpine's team, which continues to be a national leader in transitioning to cleaner and more efficient energy resources,' Governor Markell said. 'This facility also affirms our state's guiding principle that what's good for our environment is also good for our economy. Construction of this project put hundreds of Delawareans to work and supported Calpine's business in Delaware, while also building on our state's dramatic transition to cleaner energy that is more cost-effective for consumers and helps fight climate change.'
'As public policy increasingly recognizes the importance of investment in environmentally responsible technology, flexible and efficient turbines utilizing clean, domestic natural gas will fill an even more significant role in supporting the nation's power grid. Calpine is proud to bring the stateof-the-art Garrison Energy Center online to help Delaware achieve the emission reductions targets set in the U.S. Environmental Protection Agency's recently announced Clean Power Plan,' Mr. Hill said. 'In addition, Garrison will also be equipped with dual-fuel capability to help ensure power reliability for the Delmarva Peninsula in the event of extreme weather.'
City of Dover Mayor Robin Christiansen stated that, 'today's dedication of an advanced, energyefficient electric generating facility at the Garrison Oak Technical Park fulfills a longstanding vision for Dover.' He added, 'Calpine has enhanced the generating supply infrastructure, increased electric reliability and afforded Dover the opportunity to obtain cost-effective power. All of these factors continue to help make Dover a great place to manufacture and a preferred location to live, work and play.' More than 450 local craft workers helped build the new power plant, the development of which has helped attract other new tenants to Garrison Oak Technology Park. A $2.5 million grant from the State of Delaware's New Jobs Infrastructure Fund helped fund the construction of a six-mile natural gas pipeline extension to the park to serve the power plant and improve the availability of natural gas for other businesses and consumers in the region.
Calpine Corporation is America's largest generator of electricity from natural gas and geothermal resources. Our fleet of 83 power plants in operation or under construction represents nearly 27,000 megawatts of generation capacity. Through wholesale power operations and our retail business, Champion Energy, we serve customers in 19 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.
In addition to historical information, this release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, 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,' 'should,' 'estimate,' 'potential,' 'project' 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.
Given the risks and uncertainties surrounding forward-looking statements, you should not place undue reliance on these statements. Many of these factors are beyond our ability to control or predict. Our forward-looking statements speak only as of the date of this release. Actual results or developments may differ materially from the expectations expressed or implied in the forward-looking statements, and, other than as required by law, Calpine undertakes no obligation to update any such statements, whether as a result of new information, future events, or otherwise.