Florida PSC approves application for Calpine’s Osprey Energy Center

TALLAHASSEE, Fla., Feb. 12, 2001 (PRNewswire) — The Florida Public Service Commission (PSC) today unanimously approved a joint application filed by Calpine Corporation and Seminole Electric Cooperative, Inc., under which Calpine will build a 529-megawatt combined-cycle power generating facility to supply electric power to help meet Seminole’s members’ power needs.

The long-term agreement with Seminole will allow the Osprey project to move forward as the first large-scale, combined-cycle generating facility to be built by an independent power producer under Florida’s Power Plant Siting Act.

The proposed Osprey Energy Center will be located in Auburndale, Florida, next to Calpine’s existing 150-megawatt cogeneration facility. Under the terms of the agreement, Seminole will have access to electricity from the Osprey facility for a period of 17 years beginning in June 2003.

The PSC need determination hearing lasted slightly more than an hour and was uncontested. With PSC approval in hand, the project will now move ahead toward final hearings and approval by Florida’s Power Plant Siting Board, with ground-breaking expected later this year.

“Today’s vote is a milestone in the development of competitive power generation in Florida and is the keystone in Calpine’s strategic plan for Florida and the southeastern United States,” stated Calpine senior vice president Bob Alff. “Through our cooperative effort with Seminole, the Osprey Energy Center will provide reliable, cost-effective and environmentally responsible power generation services that wholesale customers in Florida are seeking.”

“We’re pleased that the Florida PSC has approved this arrangement, after careful review of the record,” said Tim Woodbury, Seminole’s vice president, strategic services. “They agree the Seminole/Calpine arrangement is in the best interest of our members and our members’ consumers. We look forward to a longstanding relationship with Calpine.”

Seminole, a generation and transmission cooperative, provides bulk supplies of electricity to 10 member distribution cooperatives located throughout peninsular Florida. More than 1.5 million residential, commercial and industrial consumers in 45 counties rely on Seminole and its members for electric power service.

Calpine currently owns a 150-megawatt combined-cycle cogeneration facility in Auburndale and has announced that it will expand that facility by adding a nominal 100-megawatt peaking unit at the site. In addition to Calpine’s existing Florida operations, the company previously announced a $750 million expansion program, which includes the 529-megawatt Osprey project and the 1,080-megawatt Blue Heron Energy Center, to be located in Indian River County, west of Vero Beach. Calpine reinforced its commitment to the Florida market by opening and fully staffing an office in Tampa during 2000.

Based in San Jose, Calif., Calpine Corporation is dedicated to providing customers with reliable and competitively priced electricity. Calpine is focused on clean, efficient combined-cycle, natural gas-fired generation and is the world’s largest producer of renewable geothermal energy. Calpine has launched the largest power development program in North America.

To date, the company has approximately 28,300 megawatts of base load capacity and 5,200 megawatts of peaking capacity in operation, under construction and in announced development in 27 states and Canada. The company was founded in 1984 and is publicly traded on the New York Stock Exchange under the symbol CPN. For more information about Calpine, visit its website at www.calpine.com