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CALPINE CORP. PURCHASES FREEPORT-MCMORAN RESOURCE PARTNERS' INTEREST IN PRODUCING GEOTHERMAL PROPERTIES

 SAN JOSE, Calif., April 21 /PRNewswire/ -- Calpine Corp., an independent power producer, today announced it has purchased from Freeport-McMoRan Resource Partners, L.P. (NYSE: FRP) its remaining interest in producing geothermal properties for $63.5 million. The properties are located at The Geysers area of northern California, the world's largest producing geothermal resource.
 Peter Cartwright, president, stated, "This transaction significantly strengthens Calpine's position as one of the industry's fastest growing independent power producers and affirms our commitment to the geothermal industry and to The Geysers. By carefully managing this valuable resource, we will preserve a long-term supply of reliable, economic and environmentally sound power generation."
 Calpine manages 387 MW of geothermal projects which provide sufficient electricity to meet the needs of nearly 400,000 households in northern California. In Sonoma and Lake counties alone, the company employs nearly 100 people.
 Calpine today is a leading participant in the independent power industry as a developer, owner and operator of gas-fired cogeneration and geothermal facilities throughout the United States. Founded in 1984, the company has more than 500 MW in its project portfolio and projects gross revenues to be $90 million in 1993. The company is currently negotiating to develop the 150 MW Coso geothermal project for the Los Angeles Department of Water and Power.
 -0- 4/21/93
 /CONTACT: Katherine Potter of Calpine, 408-995-5115/
 (FRP)


CO: Calpine Inc.; Freeport-McMoRan Resource Partners L.P. ST: California IN: UTI SU:

SH-TM -- SJ007 -- 8760 04/21/93 12:46 EDT
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Publication:PR Newswire
Date:Apr 21, 1993
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