<ARTICLE>                     5
<LEGEND>
THIS SCHEDULE  CONTAINS  SUMMARY  FINANCIAL  INFORMATION  EXTRACTED FROM CALPINE
CORPORATION'S  CONSOLIDATED  BALANCE  SHEET  AS OF JUNE  30,  1999  AND FROM THE
CONSOLIDATED  STATEMENT OF OPERATIONS FOR THE SIX MONTHS ENDED JUNE 30, 1999 AND
IS QUALIFIED IN ITS ENTIRETY BY REFERENCE TO SUCH STATEMENTS.


</LEGEND>
<CIK>                       0000916457
<NAME>                      CALPINE CORPORATION
<MULTIPLIER>                                   1,000
<CURRENCY>                                     U.S. DOLLAR

                             
<PERIOD-TYPE>                   9-MOS
<FISCAL-YEAR-END>                              DEC-31-1999
<PERIOD-START>                                 JAN-01-1999
<PERIOD-END>                                   SEP-30-1999
<EXCHANGE-RATE>                                1
<CASH>                                         173,675
<SECURITIES>                                   0
<RECEIVABLES>                                  118,983
<ALLOWANCES>                                   0
<INVENTORY>                                    14,398
<CURRENT-ASSETS>                               333,943
<PP&E>                                         2,138,518
<DEPRECIATION>                                 280,285
<TOTAL-ASSETS>                                 2,721,989
<CURRENT-LIABILITIES>                          162,979
<BONDS>                                        0
<PREFERRED-MANDATORY>                          0
<PREFERRED>                                    0
<COMMON>                                       55
<OTHER-SE>                                     557,994
<TOTAL-LIABILITY-AND-EQUITY>                   2,721,989
<SALES>                                        529,765
<TOTAL-REVENUES>                               600,239
<CGS>                                          365,323
<TOTAL-COSTS>                                  398,003
<OTHER-EXPENSES>                               41,922
<LOSS-PROVISION>                               0
<INTEREST-EXPENSE>                             70,190
<INCOME-PRETAX>                                107,692
<INCOME-TAX>                                   42,215
<INCOME-CONTINUING>                            65,477
<DISCONTINUED>                                 0
<EXTRAORDINARY>                                1,150
<CHANGES>                                      0
<NET-INCOME>                                   64,327
<EPS-BASIC>                                  1.29
<EPS-DILUTED>                                  1.21