Calpine’s Pine Bluff Energy Center enters full operations near Little Rock, Ark.

SAN JOSE, Calif., Sept. 24, 2001 – Calpine Corporation announced its 213-megawatt Pine Bluff Energy Center has entered operations.

Located approximately 50 miles south of Little Rock, Ark., Pine Bluff Energy Center is a combined-cycle, natural gas-fired electric generating facility. Calpine recently purchased the remaining 33.3 percent interest in the project from Houston, Texas-based Intergen (North America), Inc.

This modern energy center is helping meet the growing demand for electricity throughout the Southeastern Electric Reliability Council (SERC) wholesale power market. As a cogeneration facility, Pine Bluff Energy Center also provides International Paper’s Pine Bluff Mill with a long-term supply of steam and electricity to supplement internal generation.

This combined-cycle configuration utilizes one natural gas fueled combustion turbine, a heat recovery steam generator and a steam turbine to generate 213 megawatts of electricity. This highly efficient configuration enables Pine Bluff to generate electricity 40 percent more efficiently than older technology gas-fired plants while significantly lowering emissions.

“Pine Bluff will provide clean, reliable and environmentally responsible energy to the SERC region,” said Calpine Asset Manager Henry Nader. “The geographic location of this new facility adds to our Southeast power portfolio and enables us to meet the increasing power demands with the most innovative and reliable technology available, providing reliability to our customers.”

Calpine Corporation, based in San Jose, Calif., is dedicated to providing customers with reliable and competitively priced electricity. Calpine is focused on clean, efficient, natural gas-fired generation and is the world’s largest producer of renewable geothermal energy. Calpine has launched the largest power development program in North America. To date, the company has approximately 34,900 megawatts of base load capacity and 7,600 megawatts of peaking capacity in operation, under construction, pending acquisitions and in announced development in 29 states, the United Kingdom and Canada. The company was founded in 1984 and is publicly traded on the New York Stock Exchange under the symbol CPN. For more information about Calpine, visit its Website at www.calpine.com.

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