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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): August 29, 2002


                               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 August 29, 2002, Calpine Corporation  announced that it has entered into
an  agreement  with NAL  Resources  on behalf of NAL Oil & Gas Trust and another
institutional  investor,  for the  sale  of  certain  non-strategic  oil and gas
properties for approximately $81 million, or approximately Cdn$125 million.

     On August 29,  2002,  Calpine  Corporation  announced  it has  completed  a
Cdn$230 million initial public offering of its Calpine Power Income Fund. The 23
million  Trust Units issued to the public were priced at Cdn$10.00  per unit, to
initially yield 9.35% per annum.

ITEM 7.  FINANCIAL STATEMENTS AND EXHIBITS

(a)      Not applicable.

(b)      Not applicable.

(c)      Exhibits.

          99.0 Press release dated August 29, 2002 - Calpine Sells Non-Strategic
               Canadian Oil Assets

          99.1 Press release dated August 29, 2002 - Calpine Completes  Canadian
               Power Income Fund


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

Date:  August 30, 2002



<PAGE>

EXHIBIT 99.0

NEWS RELEASE                                              CONTACTS: 408/995-5115
                                         Media Relations: Bill Highlander, X1244
                                         Investor Relations: Rick Barraza, X1125


                 CALPINE SELLS NON-STRATEGIC CANADIAN OIL ASSETS
               Company Advances On Program to Strengthen Liquidity

     (SAN JOSE, CALIF.) August 29, 2002 - Calpine  Corporation  [NYSE:CPN] today
announced  that it has entered into an agreement with NAL Resources on behalf of
NAL Oil & Gas Trust and another institutional  investor, for the sale of certain
non-strategic  oil  and  gas  properties  for  approximately  $81  million,   or
approximately Cdn$125 million. The assets, located in central Alberta, represent
approximately 60 billion cubic feet of gas equivalent of net proved reserves, of
which  approximately  70 percent are oil and liquids.  Current net production is
approximately  19 million cubic feet of gas  equivalent per day. Under the terms
of the  agreement,  approximately  42 percent of the  acquisition  is subject to
rights of first refusal,  which expire on September 28, 2002. The balance of the
transaction is expected to close on August 30, 2002.

     "Calpine remains committed to strengthening liquidity while retaining those
assets that will continue to provide  long-term value to our shareholders and to
Calpine's core power  generation  business,"  stated Bob Kelly,  Calpine CFO and
executive vice president.  "While we continue to evaluate  opportunities for the
sale of other  non-strategic  assets,  Calpine  Natural  Gas  remains  an active
participant in the North American natural gas and power markets."

     The oil properties are located  approximately  25 miles west of Red Deer in
central  Alberta.  They include  18,845  developed  acres and 9,920  undeveloped
acres, with more than 225 producing wells.

     Based in San Jose,  Calif.,  Calpine  Corporation is an  independent  power
company that is dedicated to providing customers with clean, efficient,  natural
gas-fired  power  generation.  It generates and markets power through  plants it
develops,  owns and operates in 23 states in the United States,  three provinces
in  Canada  and in the  United  Kingdom.  Calpine  also is the  world's  largest
producer of renewable  geothermal energy, and it owns approximately 1.2 trillion
cubic feet  equivalent  of proved  natural gas reserves in Canada and the United
States.  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 website at www.calpine.com.

     This  news  release  discusses  certain  matters  that  may  be  considered
"forward-looking" statements within the meaning of Section 27A of the Securities
Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934,
as  amended,  including  statements  regarding  the  intent,  belief or  current
expectations  of  Calpine   Corporation  ("the  Company")  and  its  management.
Prospective investors are cautioned that any such forwardlooking  statements are
not  guarantees  of  future  performance  and  involve  a number  of  risks  and
uncertainties  that could  materially  affect  actual  results  such as, but not
limited to, (i) the timing and extent of  deregulation of energy markets and the
rules and regulations adopted on a transitional basis with respect thereto; (ii)
the timing and extent of changes in  commodity  prices for energy,  particularly
natural gas and electricity;  (iii) commercial operations of new plants that may
be delayed or prevented because of various  development and construction  risks,
such as a failure  to obtain  the  necessary  permits  to  operate,  failure  of
third-party  contractors to perform their contractual  obligations or failure to
obtain  financing on acceptable  terms;  (iv)  unscheduled  outages of operating
plants; (v) unseasonable weather patterns that produce reduced demand for power;
(vi) systemic  economic  slowdowns,  which can adversely  affect  consumption of
power by businesses and  consumers;  (vii) cost  estimates are  preliminary  and
actual costs may be higher than estimated;  (viii) a competitor's development of
lower-cost  generating  gas-fired  power  plants;  (ix)  risks  associated  with
marketing  and selling power from power plants in the  newly-competitive  energy
market;  (x)  the  successful  exploitation  of an  oil  or  gas  resource  that
ultimately depends upon the geology of the resource,  the total amount and costs
to  develop  recoverable   reserves  and  operations  factors  relating  to  the
extraction of natural gas; (xi) the effects on the Company's  business resulting
from reduced  liquidity in the trading and power  industry;  (xii) the Company's
ability to access the capital  markets on attractive  term;  (xiii)  sources and
uses of cash are estimates based on current expectations;  actual sources may be
lower and actual uses may be higher than estimated; (xiv) the direct or indirect
effects on the Company's business of a lowering of its credit rating (or actions
it may  take  in  response  to  changing  credit  rating  criteria),  including,
increased collateral requirements, refusal by the Company's current or potential
counterparties  to enter into  transactions  with it and its inability to obtain
credit or capital in desired amounts or on favorable terms; and (xv) other risks
identified from  time-to-time in our reports and  registration  statements filed
with the SEC,  including the risk factors  identified in our Quarterly Report on
Form 10-Q for the quarter  ended June 30, 2002 and in our Annual  Report on Form
10-K for the year ended  December 31, 2001,  which can be found on the Company's
web site at  www.calpine.com.  All information set forth in this news release is
as of  today's  date,  and  the  Company  undertakes  no  duty  to  update  this
information.



<PAGE>

EXHIBIT 99.1

NEWS RELEASE                                              CONTACTS: 408-995-5115
                                         Media Relations: Bill Highlander, X1244
                                         Investor Relations: Rick Barraza, X1125


                  CALPINE COMPLETES CANADIAN POWER INCOME FUND

     (CALGARY,  ALBERTA)  August  29,  2002  -  Calpine  Corporation  [NYSE:CPN]
(Calpine),  a leading North  American  power  producer,  today  announced it has
completed a Cdn$230  million initial public offering of its Calpine Power Income
Fund.  The 23 million  Trust Units issued to the public were priced at Cdn$10.00
per unit, to initially yield 9.35% per annum.

     Standard & Poor's has assigned its second-highest Canadian stability rating
of 'SR-2' to the Trust Units, with a stable outlook. The Trust Units are trading
on the Toronto Stock Exchange under the symbol CF.UN.

     The offering was jointly led by Scotia  Capital Inc. and CIBC World Markets
Inc.  on behalf of a syndicate  of  underwriters  that  includes  National  Bank
Financial  Inc.,  TD  Securities  Inc.,  Canaccord  Capital  Corporation,   HSBC
Securities (Canada) Inc. and Dundee Securities Corporation.

     The securities  offered have not been registered under the U.S.  Securities
Act of 1933,  as  amended,  and may not be offered or sold in the United  States
absent   registration   or  an  applicable   exemption  from  the   registration
requirements.  This  news  release  shall not  constitute  an offer to sell or a
solicitation  to buy  these  securities  in any  state of the  United  States or
province of Canada.

     Based in San Jose,  Calif.,  Calpine  Corporation is an  independent  power
company that is dedicated to providing customers with clean, efficient,  natural
gas-fired  power  generation.  It generates and markets power through  plants it
develops,  owns and operates in 23 states in the United States,  three provinces
in  Canada  and in the  United  Kingdom.  Calpine  also is the  world's  largest
producer of renewable  geothermal energy, and it owns approximately 1.2 trillion
cubic feet  equivalent  of proved  natural gas reserves in Canada and the United
States.  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 website at www.calpine.com.

     This  news  release  discusses  certain  matters  that  may  be  considered
"forward-looking" statements within the meaning of Section 27A of the Securities
Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934,
as  amended,  including  statements  regarding  the  intent,  belief or  current
expectations  of  Calpine   Corporation  ("the  Company")  and  its  management.
Prospective investors are cautioned that any such forwardlooking  statements are
not  guarantees  of  future  performance  and  involve  a number  of  risks  and
uncertainties  that could  materially  affect  actual  results  such as, but not
limited to, (i) the timing and extent of  deregulation of energy markets and the
rules and regulations adopted on a transitional basis with respect thereto; (ii)
the timing and extent of changes in  commodity  prices for energy,  particularly
natural gas and electricity;  (iii) commercial operations of new plants that may
be delayed or prevented because of various  development and construction  risks,
such as a failure  to obtain  the  necessary  permits  to  operate,  failure  of
third-party  contractors to perform their contractual  obligations or failure to
obtain  financing on acceptable  terms;  (iv)  unscheduled  outages of operating
plants; (v) unseasonable weather patterns that produce reduced demand for power;
(vi) systemic  economic  slowdowns,  which can adversely  affect  consumption of
power by businesses and  consumers;  (vii) cost  estimates are  preliminary  and
actual costs may be higher than estimated;  (viii) a competitor's development of
lower-cost  generating  gas-fired  power  plants;  (ix)  risks  associated  with
marketing  and selling power from power plants in the  newly-competitive  energy
market;  (x)  the  successful  exploitation  of an  oil  or  gas  resource  that
ultimately depends upon the geology of the resource,  the total amount and costs
to  develop  recoverable   reserves  and  operations  factors  relating  to  the
extraction of natural gas; (xi) the effects on the Company's  business resulting
from reduced  liquidity in the trading and power  industry;  (xii) the Company's
ability to access the capital  markets on attractive  term;  (xiii)  sources and
uses of cash are estimates based on current expectations;  actual sources may be
lower and actual uses may be higher than estimated; (xiv) the direct or indirect
effects on the Company's business of a lowering of its credit rating (or actions
it may  take  in  response  to  changing  credit  rating  criteria),  including,
increased collateral requirements, refusal by the Company's current or potential
counterparties  to enter into  transactions  with it and its inability to obtain
credit or capital in desired amounts or on favorable terms; and (xv) other risks
identified from  time-to-time in our reports and  registration  statements filed
with the SEC,  including the risk factors  identified in our Quarterly Report on
Form 10-Q for the quarter  ended June 30, 2002 and in our Annual  Report on Form
10-K for the year ended  December 31, 2001,  which can be found on the Company's
web site at  www.calpine.com.  All information set forth in this news release is
as of  today's  date,  and  the  Company  undertakes  no  duty  to  update  this
information.

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