Calpine and CyrusOne Announce Phase 2 of Powered Land Agreement to Support Hyperscale Data Center at Thad Hill Energy Center in Texas

HOUSTON and DALLAS, Nov. 3, 2025 /PRNewswire/ -- Houston-based Calpine Corporation today announced the second phase of its 400-megawatt (MW) power supply agreement with Dallas-based CyrusOne, a leading global data center developer and operator, to serve a new data center adjacent to the Thad Hill Energy Center in Bosque County, Texas. The new contract adds 210MW of power to the 190MW originally announced in July, completing a deal that will secure power, grid connection, and land to support the CyrusOne facility, which is currently under construction and expected to be operational by the fourth quarter of 2026.

"Our partnership with Calpine exemplifies the innovation required to meet the growth in data center demand," said Eric Schwartz, CEO of CyrusOne. "By expanding our agreement to 400MW with their Powered Land Capabilities, we've enabled a comprehensive solution for power, grid connectivity and site infrastructure, while maintaining our commitment to responsible energy use. The Thad Hill facility will set a benchmark for future hyperscale developments across Texas and beyond."

"One of the agreement attributes that we are most proud of is the ability for Calpine and CyrusOne to coordinate our operations to ensure grid reliability in times of supply scarcity," said Andrew Novotny, Calpine President and CEO. "By continuing to actively manage our generation output, these partnerships actually enhance grid reliability by curtailing in times of need. These agreements also deliver significant financial benefits for the community and the state of Texas, all while helping the US lead in the critical AI race simultaneously."

Calpine's world-class fleet in Texas is uniquely equipped to support fast-paced development by large-load, mission-critical users, and today's agreement reinforces Calpine's position as the premier power solutions provider for industrial-scale customers.

"Our best-in-class Powered Land Capabilities ("PLC") reflect Calpine's unmatched expertise in serving large loads, such as data centers. This innovative suite of products and services will continue to ensure grid reliability while preserving Texas as the energy capital of the world and meeting the unique business needs of our data center partners," said Rick Peña, Executive Vice President of Corporate Development at Calpine. "This expanded agreement at the Thad Hill Energy Center secures Calpine's position as a leader in reliable, scalable power solutions for hyperscale customers, which Calpine expects to continue to demonstrate in future projects at other Calpine facilities."

Calpine's PLC suite of products and services is tailored to provide the needed speed-to-market and reliability that hyperscale customers demand while ensuring reliability and predictability for all Texans.

About Calpine:

Calpine Corporation is America's largest generator of electricity from natural gas and geothermal resources with operations in competitive power markets. Our fleet of 79 energy facilities in operation represents over 27,000 megawatts of generation capacity. Through wholesale power operations and our retail businesses, we serve customers in 22 states and Canada. Our clean, efficient, modern and flexible fleet uses advanced technologies to generate power in a low-carbon and environmentally responsible manner. We are uniquely positioned to benefit from the secular trends affecting our industry, including the abundant and affordable supply of clean natural gas, environmental regulation, aging power generation infrastructure and the increasing need for dispatchable power plants to successfully integrate intermittent renewables into the grid. Calpine Corporation is a private corporation owned by a consortium of investors, led by Energy Capital Partners (ECP). This group also includes Access Industries and the Canada Pension Plan Investment Board. On January 10, 2025, Calpine announced entry into an agreement with Constellation (Nasdaq: CEG) under which Constellation will acquire Calpine. If you would like to learn more about Calpine, follow us: Linkedin.com/company/Calpine.

SOURCE Calpine Corporation