Calpine's 550-MW Channel Energy Center Enters Combined-Cycle Operations
Long-Term Contract Secures Power Sales
SAN JOSE, Calif., April 29 -- Calpine Corporation
(NYSE: CPN), the San Jose, Calif.-based independent power company, announced
its Channel Energy Center (CEC) in Houston, Texas, has entered combined-cycle
operations ahead of schedule and will sell steam and electricity under a
20-year agreement to LYONDELL-CITGO Refining LP.
The Channel Energy Center is located at LYONDELL-CITGO Refining LP's
facility along the Houston Ship Channel -- one of the world's largest
industrial corridors. The CEC will operate clean, natural gas-fired
combustion turbines that are 40 percent more efficient than older technology
gas-fired plants. CEC entered simple-cycle operations in July 2001,
generating up to 190 megawatts of electricity. With the completion of the
combined-cycle build out, CEC is producing approximately 550 megawatts and is
supplying all of the electricity and steam requirements for LYONDELL-CITGO at
this site.
"Securing long-term agreements with large industrials like LYONDELL-CITGO
has been the hallmark of our presence in Texas," said Diana Knox, senior vice
president of Calpine's central region. "We've proven our reliability as a
leading energy provider to the rest of the ERCOT market by consistently
supplying competitively priced power teamed with flexible services to meet an
industrial customer's strict requirements." |
