<PAGE> 1
Filed Pursuant to Rule 424(b)(5)
Registration No. 333-33736; 333-33736-01
PROSPECTUS SUPPLEMENT TO THE PROSPECTUS DATED JUNE 27, 2000
OF
CALPINE CORPORATION
RELATING TO
RESALES BY SELLING SHAREHOLDERS
OF
5 1/2% CONVERTIBLE PREFERRED SECURITIES
REMARKETABLE TERM INCOME DEFERRABLE EQUITY SECURITIES
(HIGH TIDES(SM))
The Prospectus dated June 27, 2000, as supplemented to date (the
"Prospectus") relating to resales by selling shareholders of 5 1/2% Convertible
Preferred Securities, Remarketable Term Income Deferrable Equity Securities
(HIGH TIDES(SM)), is hereby supplemented by amending the "Selling Holders"
section on pages 23-25 thereof, by inserting the following as a new selling
holder in the appropriate alphabetical location:
<TABLE>
<CAPTION>
NUMBER
OF
SELLING HOLDER HIGH TIDES
-------------- ----------
<S> <C>
Credit Suisse First Boston Corporation...................... 2,700
</TABLE>
------------------------
Prospectus Supplement dated January 3, 2001
