A California wildfire damaged five power plants at Calpine Corp.’s Geysers geothermal complex in Lake and Sonoma Counties. The so-called Valley Fire burned local power distribution lines, cooling towers and communication equipment at the power plants, the Houston, Texas-based company said in a statement Monday. The company said it wasn’t aware of any damage to the main power houses at the plants. The company has 14 power plants at the Geysers that can produce a total of about 725 megawatts. The Valley Fire has burned about 61,000 acres in Lake County, destroyed hundreds of homes and other structures and is 5 percent contained, according to the California Department of Forestry and Fire Protection’s website. Calpine said it expects its insurance will cover the costs to repair damaged units and revenue losses. Copyright 2020 Bloomberg. Was this article valuable? Yes No Here are more articles you may enjoy. Get the latest insurance newssent straight to your inbox.
The wildfire engulfing parts of California has now damaged five big power plants at Calpine Corp's Geysers geothermal complex in Lake and Sonoma Counties. "The Geysers" is the world's largest geothermal power production, and provides more than 10% of Calpine's electricity generation in California. The company hopes its insurance will cover the costs of the damage and revenue losses.