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5 February 2004 - Calpine Corporation's wholly owned subsidiary, Calpine Energy Services, LP (CES), has reached agreement with Cleco Power LLC (Cleco Power) to supply the Louisiana utility with up to 500 MW of power. The one-year agreement, beginning January 2005, includes delivery of 200 MW of power around the clock.
Once approved by state regulators, this agreement will provide Cleco's customers with a cost-competitive supply of clean, reliable power. Cleco Power, which serves more than 260 000 customers across Louisiana, is the regulated utility of Cleco Corp.
Diana Knox, Calpine senior vice president, marketing & sales, said, "Our agreement with Cleco Power further demonstrates how Calpine and competitive power markets are helping utilities across the country diversify their power portfolios, improve reliability, better manage risk and lower costs for their customers. Electricity is a vital product, and we value Cleco's confidence in Calpine's ability to meet its growing energy needs in a dependable and environmentally responsible manner."
CES will supply power to Cleco Power from the 1160 MW Acadia Energy Center, just south of Eunice, La., in Acadia Parish. The Acadia Energy Center entered operations in August 2002 and is owned by Calpine and Cleco Midstream Resources LLC, a wholly owned subsidiary of Cleco Corp. Calpine provides operations and maintenance services for the project.
The Acadia power plant generates electricity using natural gas-fired combustion turbines in combination with a steam turbine, making it up to 40 percent more fuel-efficient than older-technology plants. And the plant emits 99 percent less smog-producing nitrogen oxides than the average U.S. fossil-fuelled power plant.
Cleco Corp. is an energy services company headquartered in Pineville, La. It operates a regulated electric utility that serves customers across Louisiana. The company also operates a wholesale energy business that has approximately 2,100 megawatts of generating capacity. For more information about Cleco Corp., visit www.cleco.com.
Calpine Corporation, celebrating its 20th year in power in 2004, is a leading North American power company dedicated to providing electric power to wholesale and industrial 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 United States, three provinces in Canada and in the United Kingdom. Calpine is also the world's largest producer of renewable geothermal energy, and owns or controls approximately one trillion cubic feet equivalent of proved natural gas reserves in the United 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 www.calpine.com.
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