Company Research Report: Calpine Corporation



Company Overview


  • Name: Calpine Corporation

  • Mission: Creating Power for a Sustainable Future

  • Founded: 1984

  • Founder: No information available

  • Key People:

  • Thad Hill: Chief Executive Officer

  • Andrew Novotny: President and Chief Operating Officer

  • Thad Miller: Executive Vice Chairman and Senior Advisor

  • Zamir Rauf: Executive Vice President and Chief Financial Officer

  • Headquarters: No information available

  • Number of Employees: More than 2,400

  • Revenue: No information available

  • Known For: Largest generator of electricity from natural gas and geothermal resources in America, with extensive wholesale, commercial, industrial and residential retail operations.


Products


Core Offerings


  • Natural Gas-fired Power Plants:

  • Description: Use simple-cycle, combined-cycle, and cogeneration technologies to produce electricity.

  • Key Features: High efficiency, low emissions, the ability to rapidly ramp up or down to meet demand.


  • Geothermal Power Plants:

  • Description: Utilize high temperatures from the earth’s interior to generate steam and produce electricity.

  • Key Features: Renewable, 24/7 availability, zero fossil fuel use.


  • Battery Storage Facilities:

  • Description: Facilities under construction for storing energy.

  • Key Features: Enhance grid reliability, support renewable energy integration.


Recent Developments


  • Calpine Accelerates PJM Development Program (August 22, 2024):

  • Focus on new electricity generation locations in Ohio and Pennsylvania.

  • Potential fleet expansion following market signals of higher power demand.


  • Full-scale CCS Demonstration Project Agreement with DOE for Sutter Decarbonization Project (August 7, 2024):

  • Collaboration with the U.S. DOE to capture 95% of CO2 emissions from Sutter Energy Center.

  • First phase includes engineering, design, and community engagement.


  • Assistance to Texans Impacted by Hurricane Beryl (July 17, 2024):

  • $500,000 contribution including funds for the Hurricane Beryl Recovery Fund and assistance for Champion Energy customers.


  • Full-Scale CCS Demonstration Project Agreement with DOE for Baytown Decarbonization Project (July 3, 2024):

  • Designed to capture 95% of CO2 emissions from Baytown Energy Facility.

  • Significant step towards low-carbon electricity production.


  • Leadership Changes (February 27, 2024):

  • Andrew Novotny to succeed Thad Hill as CEO effective October 1, 2024.

  • Thad Hill will assume the role of Executive Chairman of the Board.


  • Texas Power Investment Announcement (December 14, 2023):

  • Announcement of a new 425-megawatt simple-cycle gas-fired power plant in Freestone County, Texas.

  • Emphasis on competitive market mechanisms and reliability of the Texas grid.


  • DOE Selection for Advancing Sutter and Baytown CCS Projects (December 14, 2023):

  • Both projects aim to capture and store significant amounts of CO2.

  • Collaboration with local communities and robust stakeholder support.


  • Affirmation of Texas Power Development Program (April 12, 2023):

  • Plan includes multiple projects under development aligned with PUC's market-based incentives.

  • Initial focus on new 425 MW gas-fired power plant adjacent to Freestone Energy Center.


Summary


This market research report highlights Calpine Corporation's comprehensive portfolio of clean and efficient energy solutions powered by natural gas and geothermal resources. The company is driving forward significant decarbonization projects in collaboration with the U.S. Department of Energy and other stakeholders. Calpine is focused on advancing its PJM development program and expanding power generation capacity in Texas. The recent leadership transition marks a strategic move towards continuity and growth. Calpine's commitment to sustainability and community engagement remains a cornerstone of its operational ethos.