New Energy Agreement to Supply Power From Morgan Energy Center
Calpine Corporation (NYSE:CPN) announced today it has signed a
three-year purchased power agreement, effective Jan. 1, 2009, with the
Tennessee Valley Authority (TVA) to sell 500 Megawatts (MW) of electric
power generated from the company’s Morgan
Energy Center located in Decatur, Ala.
“We are very pleased to expand our supply
relationship with TVA,” said Calpine Senior
Vice President of Commercial Operations Larry Leverett. “This
new supply agreement highlights the value our reliable and efficient
assets bring to TVA and the continuing strength of our operations in the
Southeast.”
Calpine currently provides up to 770 MW of electricity to TVA from its
Decatur Energy Center. As part of this new agreement, Calpine will also
provide TVA with up to 500 MW of firm energy from the Morgan facility.
Calpine’s 800-megawatt Morgan Energy Center
entered commercial operation in 2003 and is a clean and fuel-efficient
resource. Its combined-cycle, combined heat and power design enable
Calpine to generate electricity 40 percent more efficiently than older
technology power plants, making it a low-carbon energy resource.
About Calpine
Calpine Corporation is helping meet the needs of an economy that demands
more and cleaner sources of electricity. Founded in 1984, Calpine is a
major U.S. power company, currently capable of delivering nearly 24,000
megawatts of clean, cost-effective, reliable, and fuel-efficient
electricity to customers and communities in 18 states in the United
States. The Company operates low-carbon, natural gas-fired, and
renewable geothermal power plants. Using advanced technologies, Calpine
generates electricity in a reliable and environmentally responsible
manner for the customers and communities it serves. Please visit www.calpine.com
for more information.
Forward Looking Information
In addition to historical information, this release contains
forward-looking statements within the meaning of Section 27A of the
Securities Act and Section 21E of the Exchange Act. 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 all
assumptions, expectations, predictions, intentions or beliefs about
future events.
