                                  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 11, 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  11,  2001,  Calpine  Corporation,  the San Jose,  Calif.-based
independent  power company,  announced it has increased the principal amount and
priced five  concurrent  offerings  of senior  notes in the US dollar,  Canadian
dollar, Sterling and Euro fixed income markets. Calpine also priced pass through
lease 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 11, 2001,  announcing  the increase of the
     principal  amount and the pricing of five  concurrent  offerings  of senior
     notes,  and the  pricing of pass  through  lease  certificates  relating to
     certain sale/leaseback transactions.


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 12, 2001


<PAGE>


EXHIBIT 99.0

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


                    CALPINE COMPLETES SENIOR NOTES OFFERINGS

     (SAN JOSE,  CALIF.)  October  11,  2001 -- San Jose,  Calif.-based  Calpine
Corporation [NYSE:CPN],  the nation's fastest growing independent power company,
announced today it has increased the principal amount and priced five concurrent
offerings of senior notes in the US dollar,  Canadian dollar,  Sterling and Euro
fixed income markets.

     "Calpine's US$2.6 billion of senior notes offerings were very well received
in the  marketplace,"  stated Calpine Finance Company  President Bob Kelly.  "As
North America's leading  independent power company,  we enjoyed strong demand in
the U.S.,  Canadian,  Sterling and Euro markets.  The success of these offerings
reflects our bondholders'  confidence in Calpine's  continued ability to execute
our proven strategy of developing and operating the most modern,  low-cost fleet
of power generating facilities."

     The Canadian dollar offering,  issued by Calpine's wholly-owned  subsidiary
Calpine  Canada  Energy  Finance  ULC and  guaranteed  by  Calpine  Corporation,
represented  C$200 million in principal of 8.75% Senior Notes Due 2007 priced at
99.18%.  The lead underwriter for this transaction was TD Securities Inc. A copy
of the final prospectus can be obtained from TD Securities Inc.,  Attention-Debt
Capital  Markets,  222 Bay  Street,  Ernst & Young  Tower,  7th Floor,  Toronto,
Ontario, Canada M5K 1A2.

     The  Sterling  and  Euro  offerings,   issued  by  Calpine's   wholly-owned
subsidiary  Calpine  Canada  Energy  Finance II ULC and  guaranteed  by Calpine,
included  (pound)200 million in principal of 8.875% Senior Notes Due 2011 priced
at 99.184% and  (euro)175  million in principal of 8.375%  Senior Notes Due 2008
priced at 100.00%.

     The US dollar offerings  included $530 million in principal of 8.50% Senior
Notes Due 2008 priced at 100.1163%  issued by Calpine  Canada Energy Finance ULC
and guaranteed by Calpine  Corporation  (a reopening of senior notes  previously
issued in April  2001),  and $850 million in principal of 8.50% Senior Notes Due
2011 priced at 99.8214% issued by Calpine  Corporation  directly (a reopening of
senior notes previously  issued in February 2001). The sole lead underwriter for
the sterling,  euro and US dollar transactions was Credit Suisse First Boston. A
copy of the final  prospectuses can be obtained from Credit Suisse First Boston,
Eleven Madison Avenue, New York, NY 10010.

     Proceeds from the offerings will be used to refinance  existing bridge loan
financings  incurred  to  fund  recently  completed  transactions,  finance  the
development and construction of additional  power generation  facilities and for
working capital and general corporate purposes.

     Concurrent  with these  offerings,  Calpine also priced  $654.5  million in
principal of pass through lease certificates relating to certain  sale/leaseback
transactions.  These pass through certificates were issued in two tranches:  the
first,  consisting of $454.5  million in principal of 8.4% Series A Certificates
due May 30, 2012, priced at 100.0%, and, the second,  consisting of $200 million
in principal of 9.825% Series B Certificates due May 30, 2019, priced at 100.0%.
Proceeds  from this offering  will be used to refinance  outstanding  borrowings
under Calpine's construction loan facilities,  certain project-specific debt and
other  indebtedness,  and for working  capital and general  corporate  purposes.
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.

     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.


