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CALPINE SELECTED BY LOS ANGELES DEPARTMENT OF WATER AND POWER TO NEGOTIATE FOR DEVELOPMENT OF 150 MW GEOTHERMAL FACILITY

 CALPINE SELECTED BY LOS ANGELES DEPARTMENT OF WATER AND


POWER TO NEGOTIATE FOR DEVELOPMENT OF 150 MW GEOTHERMAL FACILITY
 SAN JOSE, Calif., Jan. 31 /PRNewswire/ -- Calpine Corp.. announced today its selection by the Los Angeles Department of Water and Power (DWP) to enter into negotiation on contracts to develop a 150 megawatt (MW) geothermal facility at DWP's Coso leases in Southern California.
 Kellie Peterson, DWP's power contract supervisor, stated, "We look forward to working with Calpine to finalize the contractual agreements and to develop this environmentally sound resource. Calpine was selected from the three short listed respondents to our Request for Proposal for development of the Coso geothermal leases. Our selection criteria included economic, financial and technical considerations of each proposal in addition to experience in operations and development resources."
 Calpine proposes to develop, operate and maintain the 150 MW geothermal facility, with the first two 30 MW units to be operational by January 1996. Total power production of 150 MW would be on-line by Jan. 1999. Power generated from the facility will be sold to DWP.
 The power plant facilities will be financed by tax-exempt bonds with credit enhancements, if needed, from commercial banks or insurers. The resource development will be financed with private equity and commercial debt.
 Ron Walter, Calpine's vice president of geothermal development, stated, "Geothermal energy is a renewable and non-polluting resource for the LA basin. We are pleased to be working with DWP to develop the Coso geothermal resource.
 "Since Calpine helped to develop the first power plant at Coso, we look forward to building upon our earlier experiences and relationships," Walter added.
 Calpine participated in the development of the first Navy I, Unit 1 geothermal unit at Coso in 1986 and 1987. This was the first power plant installed on U.S. Navy land in support of the Navy's program to develop alternative energy power sources. Calpine coordinated engineering efforts during construction, supported start-up and was responsible for plant operations and maintenance.
 One of the largest geothermal operators in The Geysers area of Northern California, Calpine has identified geothermal energy as a cost-competitive, environmentally sound energy alternative. The company owns an interest in and operates several geothermal power plants and steam fields totalling in excess of 350 MW, and sells both steam and power to Pacific Gas & Electric and steam to Sacramento Municipal Utility District.
 Founded in 1984, Calpine is a leading participant in the independent power industry. Calpine focuses on geothermal and gas- fired cogeneration power plants.
 -0- 1/32/92
 /CONTACT: Katherine Potter of Calpine, 408-995-5115/ CO: Calpine ST: California IN: OIL SU: CON


RM -- SJ004 -- 5862 01/31/92 19:09 EST
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Publication:PR Newswire
Date:Jan 31, 1992
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