14.01.05

14.1.2005: Meldung: Calpine Corp.: Strategic financial alternatives for Saltend Energy Centre

Calpine Evaluating Strategic Alternatives for its Saltend Energy Centre
Thursday January 13, 4:25 pm ET

SAN JOSE, Calif., Jan. 13 / Calpine Corporation (NYSE: CPN - News) is currently evaluating strategic financial alternatives for its Saltend Energy Centre, including the potential sale of the power plant. Calpine has retained Credit Suisse First Boston to act as its advisor and assist the company with this process.

Calpine acquired the 1,200-megawatt power plant, located in Hull, England, in late 2001 for approximately $800 million. As a cogeneration facility, the plant delivers steam and a portion of its electrical output to an adjacent chemical facility. The majority of the plant"s electrical output is sold into the United Kingdom power market.

Net proceeds from any sale of the facility would be used to redeem the existing $360 million Two-Year Redeemable Preferred Shares with the remaining proceeds to be used in accordance with the asset sale provisions of Calpine"s existing bond indentures.

Calpine Corporation is a North American power company dedicated to providing electric power to customers from clean, efficient, natural gas-fired and geothermal power plants. The company generates power at plants it owns or leases in 21 states in the United States and three provinces in Canada, in addition to the Saltend Energy Centre in the United Kingdom. The company is listed on the S&P 500. The company was founded in 1984 and is publicly traded on the New York Stock Exchange under the symbol CPN. For more information, visit www.calpine.com.

Source: Calpine Corporation
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