<SUBMISSION>
<ACCESSION-NUMBER>0000916457-01-500021
<TYPE>11-K
<PUBLIC-DOCUMENT-COUNT>1
<PERIOD>20001231
<FILING-DATE>20010629
<FILER>
<COMPANY-DATA>
<CONFORMED-NAME>CALPINE CORP
<CIK>0000916457
<ASSIGNED-SIC>4911
<IRS-NUMBER>770212977
<STATE-OF-INCORPORATION>DE
<FISCAL-YEAR-END>1231
</COMPANY-DATA>
<FILING-VALUES>
<FORM-TYPE>11-K
<ACT>34
<FILE-NUMBER>001-12079
<FILM-NUMBER>1672927
</FILING-VALUES>
<BUSINESS-ADDRESS>
<STREET1>50 WEST SAN FERNANDO ST
<CITY>SAN JOSE
<STATE>CA
<ZIP>95113
<PHONE>4089955115
</BUSINESS-ADDRESS>
<MAIL-ADDRESS>
<STREET1>50 W SAN FERNANDO
<STREET2>SUITE 500
<CITY>SAN JOSE
<STATE>CA
<ZIP>95113
</MAIL-ADDRESS>
</FILER>
<DOCUMENT>
<TYPE>11-K
<SEQUENCE>1
<FILENAME>o62901.txt
<DESCRIPTION>FISCAL YEAR ENDED 12/31/00
<TEXT>

                                 UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

                                    FORM 11-K

                 [X] ANNUAL REPORT PURSUANT TO SECTION 15(d) OF
                       THE SECURITIES EXCHANGE ACT OF 1934

                   For the fiscal year ended December 31, 2000

                                       OR

               [ ] TRANSITION REPORT PURSUANT TO SECTION 15(d) OF
                       THE SECURITIES EXCHANGE ACT OF 1934

          For the transition period from ______________ to ____________

                         Commission file number 1-12079

                   CALPINE CORPORATION RETIREMENT SAVINGS PLAN
                            (Full title of the plan)

                               CALPINE CORPORATION
                           50 WEST SAN FERNANDO STREET
                           SAN JOSE, CALIFORNIA 95113
         (Name of issuer of the securities held pursuant to the plan and
                 the address of its principal executive office)


<PAGE>

Required Information

Financial Statements
--------------------

Statements of Net Assets Available for Benefits as of December 31, 2000 and 1999

Statement  of Changes in Net Assets  Available  for  Benefits for the Year Ended
December 31, 2000

Notes to Financial Statements

Other
-----

Schedule  G, Line  4d--Schedule  of  Nonexempt  Transactions  for the Year Ended
December 31, 2000

Schedule H, Line 4i--Schedule of Assets (Held at End of Year) as of December 31,
2000

Exhibit 23.1--Consent of Independent Public Accountants


<PAGE>

                                   SIGNATURES




Pursuant  to the  requirements  of the  Securities  Exchange  Act of  1934,  the
trustees (or other persons who administer  the employee  benefit plan) have duly
caused this annual report to be signed on its behalf by the undersigned hereunto
duly authorized.

                                     Calpine Corporation Retirement Savings Plan

Date:  June 29, 2001                 By:   /s/ Peter Cartwright
                                           ---------------------------------
                                           Peter Cartwright
                                           Chairman of the Board of Directors of
                                           Calpine Corporation



<PAGE>


CALPINE CORPORATION
RETIREMENT SAVINGS PLAN

Financial Statements
As of December 31, 2000 and 1999
Together with Report of Independent Public Accountants



<PAGE>

                    REPORT OF INDEPENDENT PUBLIC ACCOUNTANTS

To the Advisory Committee of the
Calpine Corporation Retirement Savings Plan:

We have audited the accompanying statements of net assets available for benefits
of Calpine  Corporation  Retirement  Savings  Plan (the Plan) as of December 31,
2000 and 1999, and the related  statement of changes in net assets available for
benefits for the year ended December 31, 2000.  These  financial  statements and
the schedules referred to below are the responsibility of the Plan's management.
Our  responsibility  is to express an opinion on these financial  statements and
schedules based on our audits.

We conducted our audits in accordance with auditing standards generally accepted
in the United States. Those standards require that we plan and perform the audit
to obtain reasonable  assurance about whether the financial  statements are free
of material misstatement. An audit includes examining, on a test basis, evidence
supporting  the amounts and  disclosures in the financial  statements.  An audit
also includes assessing the accounting principles used and significant estimates
made by  management,  as well as  evaluating  the  overall  financial  statement
presentation.  We believe  that our audits  provide a  reasonable  basis for our
opinion.

In our opinion,  the financial  statements  referred to above present fairly, in
all material  respects,  the net assets available for benefits of the Plan as of
December  31,  2000 and 1999,  and the changes in its net assets  available  for
benefits for the year ended  December 31, 2000,  in conformity  with  accounting
principles generally accepted in the United States.

Our  audits  were  made for the  purpose  of  forming  an  opinion  on the basic
financial  statements taken as a whole. The supplemental  schedules of nonexempt
transactions  for the year ended  December  31, 2000 and assets  (held at end of
year) as of December 31, 2000, are presented for purposes of additional analysis
and  are  not a  required  part  of  the  basic  financial  statements  but  are
supplementary  information  required  by the  Department  of  Labor's  Rules and
Regulations for Reporting and Disclosure  under the Employee  Retirement  Income
Security Act of 1974.  The  supplemental  schedules  have been  subjected to the
auditing procedures applied in the audits of the basic financial statements and,
in our opinion,  are fairly  stated in all material  respects in relation to the
basic financial statements taken as a whole.

San Jose, California,
June 25, 2001



<PAGE>


                               CALPINE CORPORATION
                             RETIREMENT SAVINGS PLAN
                                 EIN 77-0212977
                                 PLAN NUMBER 002

                                TABLE OF CONTENTS
<TABLE>
<CAPTION>
<S>                                                                          <C>
Statements of Net Assets Available for Benefits as of
December 31, 2000 and 1999                                                     1

Statement of Changes in Net Assets Available for Benefits for the
Year Ended December 31, 2000                                                   2

Notes to Financial Statements                                                3-5

Schedule G, Line 4d--Schedule of Nonexempt Transactions for the
Year Ended December 31, 2000                                                   6

Schedule H, Line 4i--Schedule of Assets (Held at End of Year)
as of December 31, 2000                                                        7

Exhibit 23.1--Consent of Independent Public Accountants                        8
</TABLE>


<PAGE>


                               CALPINE CORPORATION
                             RETIREMENT SAVINGS PLAN
                                 EIN 77-0212977
                                 PLAN NUMBER 002

                 STATEMENTS OF NET ASSETS AVAILABLE FOR BENEFITS
                           DECEMBER 31, 2000 AND 1999
<TABLE>
<CAPTION>
                                            2000         1999
                                        -----------  ------------
<S>                                     <C>           <C>
ASSETS:
   Investments, at fair value           $82,255,772   $37,140,129
                                        -----------   -----------
   Receivables:
     Employer contributions                    --         103,460
     Participant contributions                 --         204,630
     Accrued income                         447,725         1,212
                                        -----------   -----------
                Total receivables           447,725       309,302
                                        -----------   -----------
                Total assets             82,703,497    37,449,431
LIABILITIES:
   Payable for securities purchased            --          71,308
                                        -----------   -----------
NET ASSETS AVAILABLE FOR BENEFITS       $82,703,497   $37,378,123
                                        ===========   ===========
</TABLE>
        The accompanying notes are an integral part of these statements.

                                       1
<PAGE>


                               CALPINE CORPORATION
                             RETIREMENT SAVINGS PLAN
                                 EIN 77-0212977
                                 PLAN NUMBER 002

            STATEMENT OF CHANGES IN NET ASSETS AVAILABLE FOR BENEFITS
                      FOR THE YEAR ENDED DECEMBER 31, 2000
<TABLE>
<CAPTION>
<S>                                                    <C>
ADDITIONS:
   Additions to net assets attributed to:
     Investment income:
       Net appreciation in fair value of investments   $18,751,896
       Interest and dividends                            3,053,475
                                                       -----------
                 Total investment income                21,805,371
                                                       -----------
     Contributions:
       Participant                                       7,418,962
       Employer                                          2,947,740
       Rollover                                         13,782,752
                                                       -----------
                Total contributions                     24,149,454
                                                       -----------
     Net assets transferred from a related plan            765,453
                                                       -----------
                Total additions                         46,720,278
                                                       -----------
DEDUCTIONS:
   Deductions from net assets attributed to:
     Benefits paid to participants                       1,331,946
     Administrative expenses                                62,958
                                                       -----------
                Total deductions                         1,394,904
                                                       -----------
                Net increase                            45,325,374
NET ASSETS AVAILABLE FOR BENEFITS:
     Beginning of year                                  37,378,123
                                                       -----------
     End of year                                       $82,703,497
                                                       ===========
</TABLE>
         The accompanying notes are an integral part of this statement.

                                       2

<PAGE>


                               CALPINE CORPORATION
                             RETIREMENT SAVINGS PLAN
                                 EIN 77-0212977
                                 PLAN NUMBER 002

                          NOTES TO FINANCIAL STATEMENTS
                                DECEMBER 31, 2000



1.        Description of the Plan and Investment Program:

          The  following   describes   the  major   provisions  of  the  Calpine
          Corporation  Retirement  Savings  Plan (the  Plan) and  provides  only
          general  information.  Participants  should refer to the plan document
          for a more complete description of the Plan's provisions.

          General

          Calpine  Corporation  (the  Company)  established  the Plan  effective
          January 1, 1987, to supplement employees' retirement income. Effective
          January 1, 2000, all active,  full-time employees,  with the exception
          of collective bargaining employees, are eligible to participate in the
          Plan the first of the month  following the  employee's  hire date. The
          Plan is subject to the  provisions of the Employee  Retirement  Income
          Security Act of 1974  (ERISA).  The Plan is directly  monitored by the
          Advisory  Committee  appointed  by the  Board of  Directors.  Fidelity
          Management Trust Company is the plan trustee.

          Participant and Company Contributions

          The Company makes  nondiscretionary  monthly contributions to the Plan
          equal to 3 percent  of a  participant's  annual  compensation  over 12
          monthly  contributions,  subject to certain limitations,  and may also
          make  discretionary  profit-sharing  contributions each plan year. The
          Plan also permits  participant  pre-tax  contributions.  Employees may
          make after-tax contributions of up to 10 percent of their salaries, as
          specified in the Plan.

          In addition  to the  nondiscretionary  contributions,  during the year
          ended   December  31,   2000,   the  Company   contributed   $609,872,
          representing earnings on delayed remittance of employee  contributions
          to the Plan.

          Participant Accounts

          Each  participant  has the right to direct the  investment  of his/her
          account balance and  contributions  to various funds, all of which are
          managed  by  Fidelity  Investments.  The funds are  provided  to allow
          participants  a choice as to investment  elections.  Participants  may
          change the  allocation  of their  contributions  on a daily basis.  In
          addition,  participants  may borrow from their  accounts in accordance
          with the Plan's provisions.

          Vesting

          Participants  are  always  fully  vested  in their  account  balances.
          Generally,  distributions are made only when a participant  terminates
          employment or for reasons of retirement, death or disability. However,
          withdrawals may be made in the event of certain other conditions, such
          as financial hardship, as specified in the Plan.

          Participant Loans

          Participants are allowed to have one loan outstanding at any one time.
          Loans  are  limited  to the  lesser  of  $50,000  or  one-half  of the
          participant's  balance  and are  secured by his/her  account  balance.
          Loans must be for a minimum of $1,000.  Loans of less than $2,500 must
          have a term of two years or less.  Loans over that amount can have any
          term less than or equal to five years.  Participants  can obtain loans
          with a term of ten  years if the  loans  are used for the  purpose  of
          acquiring  their  principal  residences.  Interest  rates on the loans
          outstanding  at  December  31,  2000 range  from 7.12  percent to 9.75
          percent.

                                       3

<PAGE>
          Payments of Benefits

          Upon  termination of employment,  participants  may receive a lump-sum
          payment of their account balances,  subject to the vesting  provisions
          described  above.  Additional  optional  payment  forms,  including  a
          qualified joint and survivor annuity, are available at the election of
          the participant.

          Administrative Expenses

          Investment  management  fees,  trustee fees,  agent fees and brokerage
          commissions  are paid by the  Plan.  Other  outside  professional  and
          administrative services are paid or provided by the Company.

          Plan Termination

          Although it has not expressed any intent to do so, the Company has the
          right under the Plan to discontinue its  contributions at any time and
          to terminate the Plan subject to the provisions of ERISA.

2.        Summary of Significant Accounting Policies:

          Basis of Accounting

          The  accompanying  financial  statements  of the Plan were prepared in
          accordance with accounting principles generally accepted in the United
          States.

          Use of Estimates

          The preparation of financial  statements in conformity with accounting
          principles  generally accepted in the United States generally requires
          management to make estimates and assumptions  that affect the reported
          amounts of assets and  liabilities  and changes therein and disclosure
          of contingent assets and liabilities. Actual results could differ from
          those estimates.

          Investment Valuation and Income Recognition

          In general,  investment  securities are exposed to various risks, such
          as interest rate,  credit and overall market  volatility risks. Due to
          the level of risk associated with certain investment securities, it is
          reasonably   possible   that  changes  in  the  values  of  investment
          securities  could  occur in the near  term,  and  such  changes  could
          materially affect the amounts reported in the statements of net assets
          available for benefits.

          Calpine  Corporation  Common Stock,  a publicly  traded  security,  is
          valued at fair value based upon the last  reported  sales price on the
          last business day of the plan year.

          Mutual fund  investments  are  reported at fair value based on the net
          asset value of each mutual fund.

          Participant  loans are stated at book value,  which  approximates fair
          value.

          Interest  income is recorded on an accrual basis.  Dividend  income is
          recorded on the  ex-dividend  date.  Purchases and sales of securities
          are recorded on a trade-date basis.

          Benefits

          Benefits are recorded when paid.

          Derivative Instruments

          Effective January 1, 2001, the Plan has adopted Statement of Financial
          Accounting Standards No. 133,  "Accounting for Derivative  Instruments
          and  Hedging  Activities."  This  statement  does not have a  material
          impact on the Plan. As of December 31, 2000, the Plan did not have any
          derivative instruments.

                                       4

<PAGE>

3.        Investments:

          The following represents individual investments held by the Plan:
<TABLE>
<CAPTION>
                                                         December 31,
                                                  -------------------------
                                                      2000          1999
                                                  -----------   -----------
<S>                                               <C>           <C>
          Calpine Corporation Common Stock        $53,014,229   $ 7,962,881
          Fidelity Magellan Fund                    8,735,751    10,257,830
          Fidelity Aggressive Growth Fund           6,501,123     7,166,573
          Fidelity Balanced Fund                    3,123,981     2,853,510
          Fidelity Overseas Fund                    2,205,192     2,545,258
          Fidelity Equity Income II Fund            2,622,160     2,029,312
          Fidelity Retirement Money Market Fund     3,486,431     1,892,902
          Fidelity Intermediate Bond Fund           1,073,346       978,940
          Participant loans                         1,395,565     1,044,577
          Interest-bearing cash                        97,994       408,346
                                                  -----------   -----------
                                                  $82,255,772   $37,140,129
                                                  ===========   ===========
</TABLE>

          During 2000,  the Plan's  investments  (including  gains and losses on
          investments  bought  and  sold,  as  well  as held  during  the  year)
          appreciated (depreciated) in value by $18,751,896 as follows:
<TABLE>
<CAPTION>
                     <S>                                 <C>
                     Mutual funds                        $(5,774,760)
                     Calpine Corporation Common Stock     24,526,656
                                                         -----------
                                                         $18,751,896
                                                         ===========
</TABLE>

4.        Party-In-Interest Transactions:

          The  trustee is a  party-in-interest  according  to  Section  3(14) of
          ERISA.  The trustee serves as Plan fiduciary,  investment  manager and
          custodian to the Plan. As defined by ERISA, any person or organization
          that   provides   these   services   to   the   Plan   is  a   related
          party-in-interest. In 2000, fees paid to the trustee were $62,958.

5.        Tax Status:

          The Internal  Revenue  Service has determined and informed the Company
          by a letter dated  September 23, 1995, that the Plan and related trust
          are designed in accordance  with  applicable  sections of the Internal
          Revenue Code (IRC).  The Plan has been  amended  since  receiving  the
          determination  letter.  However, the plan administrator and the Plan's
          tax counsel  believe that the Plan is designed and is currently  being
          operated in compliance with the applicable provisions of the IRC.

                                       5

<PAGE>


                               CALPINE CORPORATION
                             RETIREMENT SAVINGS PLAN
                                 EIN 77-0212977
                                 PLAN NUMBER 002

             SCHEDULE G, LINE 4d--SCHEDULE OF NONEXEMPT TRANSACTIONS
                      FOR THE YEAR ENDED DECEMBER 31, 2000
<TABLE>
<CAPTION>
                                                                                                                  (i)      (j)
        (a)                (b)                 (c)               (d)       (e)     (f)      (g)        (h)      Current    Net
 Identity of Party    Relationship        Description of       Purchase  Selling  Lease   Expenses   Cost of    Value of   Gain
      Involved           to Plan           Transaction          Price     Price   Rental  Incurred    Asset      Asset    (Loss)
--------------------  ------------  -------------------------  --------  -------  ------  --------  ----------  --------  ------
<S>                     <C>         <C>                          <C>       <C>     <C>      <C>     <C>           <C>      <C>
*Calpine Corporation    Employer    Late 401(k) contributions    N/A       N/A     N/A      N/A     $  144,680    N/A      N/A
*Calpine Corporation    Employer    Late 401(k) contributions    N/A       N/A     N/A      N/A        201,465    N/A      N/A
*Calpine Corporation    Employer    Late 401(k) contributions    N/A       N/A     N/A      N/A      1,429,385    N/A      N/A
*Calpine Corporation    Employer    Late 401(k) contributions    N/A       N/A     N/A      N/A        222,187    N/A      N/A
*Calpine Corporation    Employer    Late 401(k) contributions    N/A       N/A     N/A      N/A        195,267    N/A      N/A
*Calpine Corporation    Employer    Late 401(k) contributions    N/A       N/A     N/A      N/A        207,323    N/A      N/A
*Calpine Corporation    Employer    Late 401(k) contributions    N/A       N/A     N/A      N/A        217,488    N/A      N/A
</TABLE>

*Represents a party-in-interest

                                       6

<PAGE>


                               CALPINE CORPORATION
                             RETIREMENT SAVINGS PLAN
                                 EIN 77-0212977
                                 PLAN NUMBER 002

          SCHEDULE H, LINE 4i--SCHEDULE OF ASSETS (HELD AT END OF YEAR)
                                DECEMBER 31, 2000
<TABLE>
<CAPTION>
                       (b)
           Identity of Issue, Borrower,                             (c)                           (d)          (e)
 (a)         Lessor or Similar Party                     Description of Investment                Cost     Current Value
-----  -------------------------------------      --------------------------------------------   ------    -------------
<S>    <C>                                        <C>                                              <C>       <C>
  *    Calpine Corporation Common Stock           1,746,460 shares of mutual fund investments      N/A       $53,014,229
  *    Fidelity Magellan Fund                     73,225 shares of mutual fund investments         N/A         8,735,751
  *    Fidelity Aggressive Growth Fund            179,738 shares of mutual fund investments        N/A         6,501,123
  *    Fidelity Balanced Fund                     205,660 shares of mutual fund investments        N/A         3,123,981
  *    Fidelity Overseas Fund                     64,160 shares of mutual fund investments         N/A         2,205,192
  *    Fidelity Equity Income II Fund             109,898 shares of mutual fund investments        N/A         2,622,160
  *    Fidelity Retirement Money Market Fund      3,486,431 shares of money market investments     N/A         3,486,431
  *    Fidelity Intermediate Bond Fund            106,907 shares of mutual fund investments        N/A         1,073,346
  *    Participant loans                          Interest rates, 7.12% to 9.75%                   N/A         1,395,565
  *    Fidelity                                   Interest-bearing cash                            N/A            97,994
                                                                                                             -----------
                                                  Total                                                      $82,255,772
                                                                                                             ===========
</TABLE>
*Represents a party-in-interest

                                       7

<PAGE>

EXHIBIT 23.1

                   CONSENT OF INDEPENDENT PUBLIC ACCOUNTANTS


As independent public accountants, we hereby consent to the incorporation of our
report  included  in  this  Form  11-K,  into  the  Company's  previously  filed
Registration Statement on Form S-8 File No. 333-34002.

San Jose, California
June 25, 2001

                                       8


</TEXT>
</DOCUMENT>
</SUBMISSION>
