Gov. Markell welcomes Calpine Corp. to Delaware

Wilmington, Del., November 17, 2010 – Gov. Jack Markell and state officials today welcomed Calpine Corp. to Delaware as it opens its new regional headquarters, located in Wilmington, following the company’s $1.63 billion acquisition of Conectiv Energy from Pepco Holdings in July.

The occasion was marked by an event at the Edge Moor Energy Center in Wilmington to celebrate the company’s commitment to use natural gas as the primary fuel source at the plant, previously fueled by coal, and to announce that Calpine will pursue the development of new gas-fired generation capacity on the existing Edge Moor campus.

“This is a win for Delaware’s economy and environment. Calpine had choices about where to put their headquarters and they chose Delaware. In making their decision about the power they would provide, they’ve chosen to move to cleaner choices,” Markell said. “We put so much of our energy into keeping existing and growing new jobs and it’s great to see that Calpine will be putting their energy here as well.”

“Calpine is excited to become a part of the Wilmington and Delaware community. We are an action-oriented company that believes in helping to create a sustainable future for the communities in which we do business. Here in Delaware this is best illustrated by our decision to operate our Edge Moor plant, as well as the Deepwater plant across the river in New Jersey, on natural gas rather than coal, helping achieve a cleaner energy future for the local communities and beyond, while providing reliable, cost-effective power. Finally, we are preparing to add new state-of-the-art, natural gas-fired generation at the Edge Moor site to help meet future demand for reliable and environmentally responsible power in the region,” said Calpine President and CEO Jack Fusco.

The acquisition represented an addition of about 4,500 MW to Calpine’s existing fleet with about half (1,949 MW) of the new portfolio located in Delaware. Calpine is now the largest generator in the state, employing 25 corporate-level employees and 112 plant operations personnel at five energy centers in Delaware.

In addition, Calpine executed a corporate decision to cease any and all use of coal at its Edge Moor plant in Wilmington and at its Deepwater plant in Pennsville, NJ. Burning natural gas eliminates mercury emissions and the generation of landfill materials – fly ash and bottom ash – and will reduce sulfur dioxide and smoke stack particulate emissions. The nitrogen oxides that can lead to ozone formation and carbon dioxide, the primary greenhouse gas, will also be reduced.

As indicated by Fusco, Calpine is planning to build a new generating plant on the Edge Moor site if it is successful in bidding the proposed project into the regional auction for new electric generating capacity administered by PJM Interconnection LLC. The new facility could be in commercial operation as soon as the summer of 2014.

Also, as part of today’s celebration, the Calpine Corporate Foundation contributed $25,000 to the Delaware Nature Society to supports its educational efforts. The contribution exemplifies Calpine’s focus on environmental responsibility and complements Governor Markell’s commitment to educating youth and future leaders.

Calpine is currently capable of delivering nearly 29,000 MW of power from its 93 operating plants to customers and communities in 21 U.S. states and Canada.

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