SAN JOSE, CA - Calpine Corporation (NYSE: CPN) and Peter Cartwright, the company's chairman, CEO and president, will be honored at the New York League of Conservation Voters' (NYLCV) Spring Gala tonight as "Clean Air Champions." Cartwright's fellow honoree is New York State Attorney General Eliot Spitzer. The evening will include a keynote address by New York's mayor, Michael Bloomberg.

This Clean Air Champion designation comes on the heels of Calpine's announcement earlier this month that its Board of Directors unanimously committed to voluntarily limiting its investments to only low carbon power generation. Calpine, the world's largest producer of renewable geothermal power, already operates the largest, cleanest and most efficient fleet of modern, natural gas-fired power plants in North America.

"Consumers should not have to choose between affordable power and clean air," said Cartwright, a 50-year veteran of the power industry. "With sound policies and investment strategies, this country can easily align its energy security goals with its public health and environmental goals."

The company stated that it is especially pleased to be honored here in New York, where both Spitzer and Governor George Pataki are becoming nationally recognized for their leadership on air quality and global warming.

NYLCV, the nonpartisan political arm of New York's environmental community, works to protect and improve the environment for all New Yorkers by educating elected officials and advancing the election of political candidates who make environmental protection a priority. Its Clean Air Champion designation is bestowed on individuals and organizations that are working to improve the quality of New York's air.

"Pete Cartwright is not just a visionary leader in the power industry, he is also one of this country's most important advocates of supporting policies and business practices that will provide New York and the nation cleaner, healthier air," said Marcia Bystryn, executive director of the NYLCV. "We are pleased to have the opportunity to reward Pete's and Calpine's environmental focus with this Clean Air Champion honor."

About Calpine
Calpine Corporation, celebrating its 20th year in power, is a leading North American power company dedicated to providing electric power to customers from clean, efficient, natural gas-fired and geothermal power facilities. The company generates power at plants it owns or leases in 21 states in the U.S., three provinces in Canada and the U.K. Calpine also owns or controls approximately one trillion cubic feet equivalent of proved natural gas reserves in the U.S. and Canada. The company is listed on the S&P 500, and was named FORTUNE's 2004 America's Most Admired Energy Company. Calpine is publicly traded on the New York Stock Exchange under the symbol CPN. For more information, visit www.calpine.com.

Calpine Corporation

Calpine Corporation

Calpine Corporation is helping meet the needs of an economy that demands more and cleaner sources of electricity. Founded in 1984, Calpine is a major U.S. power company, capable of delivering nearly 25,000 megawatts of clean, cost-effective, reliable and fuel-efficient electricity to customers and communities in 18 states in the United States. The company owns, leases and operates low-carbon, natural gas-fired and renewable geothermal power plants. Using advanced technologies, Calpine generates electricity in a reliable and environmentally responsible manner for the customers and communities it serves. Please visit http://www.calpine.com for more information.

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