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Houston, TX, USA · Owned by Constellation Energy (acquisition) · calpine.com
Owns 13 geothermal plants (~725 MW) at The Geysers, CA; largest US geothermal producer
Share of US geothermal capacity (~3.9 GW)
Largest US producer; Geysers field 1,517 MW installed
as of 2025 · en.wikipedia.org
Open roles
—
no public job board
Federal awards
$34M
6 grants, contracts, loans
Last private raise
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no Form D on file
SEC filings
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not an SEC filer
Coming up
POLICY45Y / 48E: all other clean power and storage
Full credit for projects beginning construction through 2033; 75% for 2034 starts, 50% for 2035, none from 2036. Affects Geothermal.
+ THESISPROJECTCalpine completes 25 MW expansion at The Geysers geothermal complex
The 25 MW expansion at The Geysers in Sonoma County was completed, adding capacity for over 25,000 homes annually. It follows a 38 MW energy storage system completed at the site in 2024.
constellationenergy.com →+ THESISREGULATORYConstellation agrees to sell 4.4 GW PJM assets to LS Power
The sale to LS Power covers about 4.4 GW of mostly gas-fired capacity in Delaware and Pennsylvania, valued at $5 billion before closing adjustments. It is part of the FERC and DOJ resolution of the Calpine transaction and is subject to regulatory approval.
lspower.com →+ THESISCONTRACTSMUD and Calpine extend and expand Geysers geothermal power agreement
SMUD and Calpine agreed to a long-term extension of their geothermal PPA from The Geysers, increasing the contract from 100 MW to 150 MW.
smud.org →+ THESISOTHERConstellation completes acquisition of Calpine, making it a subsidiary
Constellation closed its merger with Calpine, which became an indirect wholly owned subsidiary, under a deal first signed January 10, 2025. The transaction was reported at about $16.4 billion in equity value.
tipranks.com →+ THESISFEDERAL AWARDDepartment of Energy grant$7.0M
Pastoria energy facility natural gas combined cycle carbon capture system front-end engineering design study the project objective is to conduct a front-end engineering design stud
usaspending.gov →+ THESISFEDERAL AWARDDepartment of Energy grant$4.6M
De-fe0032137 calpine texas ccus holdings, llc deer park energy center natural gas combined cycle carbon capture system front-end engineering design study
usaspending.gov →+ THESISFEDERAL AWARDDepartment of Energy grant$10M
Tas::89 0331::tas recovery recovery act: caldwell ranch ecp. the geysers. sonoma co, ca (topic area 1).
usaspending.gov →+ THESISFEDERAL AWARDDepartment of Energy grant$6.1M
Demonstration of an enhanced geothermal system at the northwest geysers geothermal field, california
usaspending.gov →+ THESISFEDERAL AWARDDepartment of Energy grant$6.1M
"demonstration of an enhanced geothermal system at the northwest geysers geothermal field, california"
usaspending.gov →+ THESISHow it works
Wells tap natural underground reservoirs of hot water and steam. It runs the turbine at the surface, then the cooled water goes back down a second well to keep the reservoir going.
OPEN IN 3D →No public filings, raises or hiring trend to read yet.
Read from SEC 8-Ks (bankruptcy, default, delisting, restatement, impairment, restructuring), cash runway in annual reports, Form D raises and the 30-day hiring trend. A prompt to look closer, not a credit rating.
No public job board on Greenhouse, Lever or Ashby, so hiring isn't tracked for this company yet.
Sources: company job boards (daily), SEC EDGAR, USAspending.gov, and the reviewed technology spreadsheets. Public records only cover US entities, so foreign companies and private firms that don't file will show gaps.
Matched recipient: GEYSERS POWER COMPANY, LLC; CALPINE CALIFORNIA CCUS HOLDINGS LLC; CALPINE TEXAS CCUS HOLDINGS, LLC
Policy that applies
No minerals, policies or partners linked yet. Add them in the review spreadsheet.
2026-11-05 · Technology / approach updated
Owns 13 geothermal plants (~725 MW) at The Geysers, CA; largest US geothermal producerwas: Owns 15 of 18 plants at The Geysers, CA; largest US geothermal producer2026-06-08 · project
Calpine completes 25 MW expansion at The Geysers geothermal complexThe 25 MW expansion at The Geysers in Sonoma County was completed, adding capacity for over 25,000 homes annually. It follows a 38 MW energy storage system completed at the site in 2024.2026-03-18 · regulatory
Constellation agrees to sell 4.4 GW PJM assets to LS PowerThe sale to LS Power covers about 4.4 GW of mostly gas-fired capacity in Delaware and Pennsylvania, valued at $5 billion before closing adjustments. It is part of the FERC and DOJ resolution of the Calpine transaction and is subject to regulatory approval.2026-01-13 · contract
SMUD and Calpine extend and expand Geysers geothermal power agreementSMUD and Calpine agreed to a long-term extension of their geothermal PPA from The Geysers, increasing the contract from 100 MW to 150 MW.2026-01-07 · other
Constellation completes acquisition of Calpine, making it a subsidiaryConstellation closed its merger with Calpine, which became an indirect wholly owned subsidiary, under a deal first signed January 10, 2025. The transaction was reported at about $16.4 billion in equity value.Not an SEC filer, or no US entity matched. Most private and foreign companies don't file.