Green Bond Fact Sheet
Geysers Power Company

Date: 28/06/2020

Issue date: 01-06-2020 Maturity date: confidential Tenor: 7
Issuer Name

Geysers Power Company(“GPC”)

Amount Issued

USD900m

Country of risk

United States

CBI Database

Included

Issuer Type1

Non-Financial Corporate

Bond TypeLoan

Green Bond Framework

N/A

Second party opinion

N/A

Certification Standard

Climate Bonds Standard v2.1,
including sector- Criteria for:

Assurance report

Pre issuance verification

Green bond rating

N/A• Geothermal
Certification Verifier

DNV GLUse of Proceeds☒ Energy☐ Solar☐ Onshore wind
☐ Offshore wind☒ Geothermal☐ Hydro☐ Tidal☐ Biofuels☐ Bioenergy☐ Waste to energy☐ District heating☐ Electricity grid

☐ Energy storage☐ Energy performance☐ Infrastructure☐ Industry: components☐ Adaptation & resilience☐ Buildings☐ Certified Buildings☐ HVAC systems☐ Energy performance☐ Water performance☐ Energy storage/meters☐ Other energy related☐ Industry: components☐ Adaptation & resilience☐ Transport☐ Electric vehicles☐ Low emission vehicles☐ Bus rapid transit☐ Passenger trains☐ Urban rail

☐ Freight rolling stock☐ Coach / public bus☐ Bicycle infrastructure☐ Energy performance☐ Transport logistics☐ Infrastructure☐ Industry: components☐ Adaptation & resilience☐ Water & wastewater☐ Water distribution☐ Water treatment☐ Wastewater treatment☐ Water storage☐ Storm water mgmt
☐ Flood protection☐ Desalinisation plants☐ Erosion control☐ Energy performance☐ Infrastructure☐ Industry: components☐ Adaptation & resilience☐ Waste management☐ Recycling☐ Waste prevention☐ Pollution control☐ Landfill, energy capture☐ Energy performance☐ Infrastructure☐ Industry: components☐ Adaptation & resilience☐ Land use &agriculture☐ Afforestation/parks☐ FSC Forestry☐ FSC Cellulose & paper☐ Land remediation☐ Energy/water efficiency☐ Sustainable agriculture☐ Adaptation & resilience☐ Other☐ Adaptation &resilience☐ ICT☐ Industry: process

Issue details
Reporting

Annual reports will be made available to the lenders

Company information

GPC is a wholly owned subsidiary of Calpine Corporation, which is a large electricity producer
headquartered in Texas, US. Its generation capacity is mainly natural gas power, with almost
26GW of installed capacity.

Firsts, records andcertifications

This is the first Certification relating to geothermal energy in the US.

Proceeds description

The proceeds will be used to refinance investments in the geothermal plants, as well asongoing expenditures.
GPC is the single largest geothermal power producer in the United States, with a 725 MW fleetof 13 plants. They are located in an area called The Geysers in the Mayacamas Mountains,
about 70 miles north of San Francisco, California. They contribute to 10% of the renewableenergy generated in California.

Climate Bonds view

It is exciting to see such a prominent and significant geothermal field receive Certification.

Underwriters

MUFG Bank, BNP Paribas, Crédit Agricole, Natixis, Mizuho Bank, National Bank of Canada,
Sumitomo Mitsui, SunTrust Robinson Humphrey, CoBank, Rabobank, ING Capital and DZ Bankacted as lead arrangers
MUFG Bank acted as Administrative Agent and First Lien Collateral Agent, BNP Paribas acted as
Syndication Agent, and Crédit Agricole and Natixis acted as Green Loan Coordinators

Deal comments
Credit Rating
Pricing summary
Investors summary
1N/A
LIBOR +2.00% per annum, increasing by 0.125% every three years
See loan syndication details aboveIssuer categories: ABS, development bank, financial corporate, government-backed entity, loan, local government, non-financial
corporate, sovereign