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<STREET1>50 WEST SAN FERNANDO ST
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<TEXT>
                                  UNITED STATES

                       SECURITIES AND EXCHANGE COMMISSION

                             Washington, D.C. 20549


                                    FORM 8-K

                                 CURRENT REPORT

                       Pursuant to Section 13 or 15(d) of

                       the Securities Exchange Act of 1934


        Date of Report (Date of earliest event reported): October 2, 2001


                               CALPINE CORPORATION

                            (A Delaware Corporation)

                        Commission File Number: 001-12079

                  I.R.S. Employer Identification No. 77-0212977


                           50 West San Fernando Street

                           San Jose, California 95113

                            Telephone: (408) 995-5115




<PAGE>


ITEM 5.       OTHER EVENTS

     On  October  2,  2001,  Calpine  Corporation,  the San  Jose,  Calif.-based
independent power company,  announced four concurrent  offerings of senior notes
in the US dollar,  Canadian dollar,  Sterling and Euro fixed income markets, and
an  offering  of  approximately  $654.5  million  of pass  through  certificates
relating to certain sale/leaseback transactions.

ITEM 7.       FINANCIAL STATEMENTS AND EXHIBITS

(a)     Not applicable.

(b)     Not applicable.

(c)     Exhibits.

     99.0 Press release dated October 2, 2001, announcing proposed offerings.


SIGNATURES

Pursuant  to the  requirements  of the  Securities  Exchange  Act of  1934,  the
registrant  has duly  caused  this  report  to be  signed  on its  behalf by the
undersigned hereunto duly authorized.


                               CALPINE CORPORATION


                          By: /s/ Charles B. Clark, Jr.
                              -------------------------
                              Charles B. Clark, Jr.
                      Senior Vice President and Controller
                            Chief Accounting Officer
October 8, 2001


<PAGE>


EXHIBIT 99.0

NEWS RELEASE                                              Contact:  408/995-5115
                                       Media Relations:  Katherine Potter, X1168
                                        Investor Relations:  Rick Barraza, X1125


                CALPINE ANNOUNCES PROPOSED SENIOR NOTES OFFERINGS

     (SAN  JOSE,  CALIF.)  October  2,  2001 -- San Jose,  Calif.-based  Calpine
Corporation [NYSE:CPN],  the nation's fastest growing independent power company,
announced  today four  concurrent  offerings  of senior  notes in the US dollar,
Canadian dollar, Sterling and Euro fixed income markets.

     The Canadian  dollar offering will consist of C$250 million of senior notes
due 2007 to be issued by Calpine's wholly-owned subsidiary Calpine Canada Energy
Finance ULC and guaranteed by Calpine Corporation. The lead underwriter for this
transaction is TD Securities.

     The  Sterling  and  Euro  offering  will  consist  of  (pound)275   million
equivalent  of senior  notes to be issued by Calpine's  wholly-owned  subsidiary
Calpine Canada Energy Finance II ULC and guaranteed by Calpine. These notes will
be issued in two separate tranches denominated in sterling and euros.

     The US dollar  offerings will consist of $500 million of senior notes to be
issued  by  Calpine   Canada  Energy  Finance  ULC  and  guaranteed  by  Calpine
Corporation,  and $287  million of senior  notes  issued by Calpine  Corporation
directly. The lead underwriter for the sterling, euro and US dollar transactions
is Credit Suisse First Boston.

     Proceeds from the offerings will be used to refinance  existing bridge loan
financings  incurred to fund  recently  completed  transactions  and for working
capital and general corporate purposes.

     This  press  release  shall  not   constitute  an  offer  to  sell  or  the
solicitation  of an offer to buy any of the  securities  referred to above,  nor
shall there be any sale of these securities in any State or other  jurisdictions
in  which  such  offer,   solicitation  or  sale  could  be  unlawful  prior  to
registration or  qualification  of such securities  under the securities laws of
any such State and other jurisdictions.

     Based in San Jose,  Calif.,  Calpine  Corporation is dedicated to providing
customers with reliable and competitively priced electricity. Calpine is focused
on clean,  efficient,  natural  gas-fired  generation and is the world's largest
producer of renewable geothermal energy.  Calpine has launched the largest power
development  program in North America.  To date,  the company has  approximately
35,100  megawatts of base load capacity and 7,600 megawatts of peaking  capacity
in operation,  under construction and in announced development in 29 states, the
United  Kingdom  and  Canada.  The  company  was founded in 1984 and is publicly
traded on the New York Stock Exchange under the symbol CPN. For more information
about Calpine, visit its web site at www.calpine.com.

     Calpine also expects to offer approximately  $654.5 million of pass through
certificates relating to certain sale/leaseback  transactions  concurrently with
the senior note offerings described above. These pass through  certificates will
not be  registered  under the  Securities  Act of 1933 and may not be offered or
sold in the United States absent  registration  or an applicable  exemption from
the registration requirements of the Securities Act. Proceeds from this offering
will be used to refinance  outstanding  borrowings under Calpine's  construction
loan facilities and certain  project-specific  debt, and for working capital and
general corporate purposes.


</TEXT>
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