Calpine Corporation : Calpine Signs 5-Year, 200 MW Power Purchase Agreement with Xcel Energy Subsidiary Southwestern Public Service Co.
06/04/2012| 05:05pm US/Eastern
Calpine Energy Services, L.P., a subsidiary of Calpine Corporation
(NYSE:CPN), has signed a power purchase agreement (PPA) to provide
Southwestern Public Services Co. (SPS), a subsidiary of Xcel Energy,
with an additional 200 megawatts of capacity and energy from Calpine's
Oneta Energy Center beginning June 1, 2014, through May 31, 2019.
Calpine is already providing 200 megawatts of capacity and energy from
Oneta Energy Center to SPS under a seven-year PPA that began on January
"We are pleased to be able to build on our customer relationship with
SPS," said Thad Hill, Calpine's Chief Operating Officer. "This PPA
provides SPS dependable, economical and environmentally responsible
generation to help meet their needs while continuing to demonstrate the
value of Calpine's broader Southeast fleet."
The clean, modern and highly efficient Oneta Energy Center, located in
Coweta, Oklahoma, is a combined-cycle power plant capable of generating
up to 1,134 megawatts of electricity using natural gas primarily
produced in Oklahoma.
The PPA is contingent upon approval from the New Mexico Public
Calpine Corporation is the largest independent power producer in the
U.S., with a fleet of 93 power generation plants representing more than
28,000 megawatts of generation capacity. Last year our plants generated
more than 94 million megawatt hours of power for our wholesale customers
in 20 states and Canada. Our 91 operating plants as well as two under
construction consist primarily of natural gas-fired and renewable
geothermal power plants that use advanced technologies to generate power
in a low-carbon and environmentally responsible manner. Our modern,
clean, efficient and cost-effective fleet stands ready to respond to the
increased need for cleaner and more affordable power as the economy
recovers, as new environmental rules are implemented and force older,
dirtier plants to retire or reduce generation, as variable renewable
power generation from wind and solar grows and with it the need for
flexible natural gas generation to assure firm supply to the grid, and
finally, as natural gas becomes economically competitive with coal as a
fuel for power generation. Please visit www.calpine.com
to learn more about why Calpine is a generation ahead - today.
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, 2011. 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.
F. Dunn, 713-830-8883
Bryan Kimzey, 713-830-8775
© Business Wire 2012