Calpine Reports Strong Second Quarter Results (Business Wire - press release)
Touts ten-year PPA with Southern California Edison for 225 MW of capacity and renewable energy from The Geysers beginning in 2017
Calpine Corporation today reported second quarter 2014 Adjusted EBITDA of $413 million, compared to $343 million in the prior year period, and Adjusted Free Cash Flow of $99 million, or $0.23 per diluted share, compared to $38 million, or $0.08 per diluted share, in the prior year period. Net Income for the second quarter of 2014 was $139 million, or $0.33 per diluted share, compared to a Net Loss of $70 million, or $0.16 per diluted share, in the prior year period. Net Loss, As Adjusted, for the second quarter of 2014 was $3 million compared to $33 million in the prior year period.
“Our strong second quarter results reflect ongoing portfolio management, effective hedging and operational excellence,” said Thad Hill, Calpine’s President and Chief Executive Officer.
“On the commercial front, since the first quarter, we have entered into four new contracts, most notably a ten-year PPA with Southern California Edison for 225 MW of capacity and renewable energy from our
Geysers geothermal fleet beginning in 2017, subject to regulatory approval.
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