27 July 1998
San Jose, CA-based Calpine Corporation [NYSE:CPN], one of the nation's fastest growing independent power companies, and San Francisco-based Bechtel Enterprises, an affiliate of Bechtel Group, Inc., a premier global engineer-constructor, today announced a joint venture to develop, own, and operate approximately 2,000 megawatts of new natural gas-fired power plants in northern California, to primarily serve the San Francisco Bay Area. The proposed plants will provide low-cost, clean, efficient power, eventually replacing less efficient Bay Area power plants, ranging in age from 26 to more than 40 years.