Calpine Corporation (A Delaware Corporation) I.R.S
A GENERATIONtodayAHEAD, 2009 ANNUAL REPORT A GENERATIONtodayAHEAD, With America embarking on a journey to a future of clean power, Calpine’s power generation portfolio contains the critical pieces needed to help solve the nation’s energy policy puzzle. One of the most important policy challenges is to assure the right array of power generation resources. Most renewable resources, other than geothermal, are intermittent, presenting reliability challenges. Potential technological solutions are not assured and, in any event, may be many years off. Our geothermal plants at The Geysers are the ideal renewable resource, providing power every minute of every day. Our modern, clean and efficient natural gas plants provide the grid with the flexibility and reliability that allow for the integration of intermittent renewable power, provide American industry with highly efficient steam and power to keep jobs here, and, due to the underulitization of natural gas generation in many regions, provide an existing and immediately viable alternative to burning coal, while emitting less than half the carbon dioxide, a fraction of the sulfur dioxide and nitrous oxide, and no mercury, among other site advantages. We are generating solutions for the future, today. Geothermal Generation Calpine owns and operates the nation’s largest baseload renewable energy fleet, consisting of 15 geothermal plants known as Calpine’s Geysers. Calpine’s 121 industrial gas turbines Calpine’s fleet of 22 cogeneration plants, comprise the nation’s largest fleet converting the nation’s largest, provide industrial clean-burning natural gas into electricity. Gas-Fired Generation customers with thermal energy and power. GENERATING SOLUTIONS for our Shareholders FINANCIAL PERFORMANCE: uring 2009, amidst challenging macroeconomic conditions Dand uneven capital markets, Calpine, through a combination of conservative risk management and sound operational, commercial and financial execution, managed to improve financial performance.
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