Calpine Corporation, today reported fourth quarter 2014 Adjusted EBITDA of $345 million, compared to $399 million in the prior year period, and Adjusted Free Cash Flow of $95 million, or $0.24 per diluted share, compared to $126 million, or $0.29 per diluted share, in the prior year period.
The company reported that it has 15 plants at The Geysers generating 725 MW of geothermal baseload energy. The Geysers provided approximately 5,837,000 MWh of renewable baseload generation in 2014 compared with 6,002,000 MWh in 2013.
In the accompanying Q4 2014 Earnings Presentation Calpine stated the need for flexibility in supplying electricity from its geothermal power plants to the California market. In December last year the California Energy Commission (CEC) approved an agreement with Calpine subsidiary Geysers Power Company LLC (The Geysers) for a $3,000,000 grant to investigate the methods, risks and costs associated with flexibly operating the Geysers geothermal plants to facilitate the integration of other intermittent renewable resources onto the grid in support of California's energy and greenhouse gas reduction goals.Read More.......