Calpine Corporation is a power generation company that operates natural gas-fired power plants in Texas, including facilities that serve the state's electricity grid managed by ERCOT.
Referenced in 3 briefingsLast referenced: May 12, 2026
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May 12, 2026
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Three Deals, One Thesis: The Capital Stack Is Buying Electrons Now
Blackstone and Halliburton announced a $1 billion investment in VoltaGrid for behind-the-meter generation May 11, NVIDIA committed $2.1 billion to IREN with the Sweetwater Texas 2 GW campus at the center, and Constellation locked another 380 MW with CyrusOne in Texas on top of Calpine's prior 400 MW.
CyrusOne topped out DFW10, a $750 million, 250,000 sq ft building at its new 400+ MW campus in Bosque County, Texas, adjacent to Calpine's 250 MW Thad Hill Energy Center.
CyrusOne and Constellation Energy have struck a 380-MW power deal to build a massive data center campus adjacent to Calpine's Freestone Energy Center in Freestone County, Texas, the latest and one of the largest behind-the-meter gas-plant pairings in ERCOT.