Filed Pursuant to Rule 424(b)(5)
Registration Statement No. 333-47068
PROSPECTUS SUPPLEMENT TO THE PROSPECTUS DATED NOVEMBER 14, 2000
OF
CALPINE CORPORATION
 RELATING TO
RESALES BY SELLING SHAREHOLDERS
OF
5% CONVERTIBLE PREFERRED SECURITIES
REMARKETABLE TERM INCOME DEFERRABLE EQUITY SECURITIES
 (HIGH TIDES(SM))
The Prospectus dated November 14, 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 24-28 thereof, by inserting the following as a new selling holder in the appropriate alphabetical location:

                                                              NUMBER
                                                                OF
                                                               HIGH
                       SELLING HOLDER                         TIDES
                       --------------                         ------
Bear Stearns Securities Corp.(1) ...........................  4,000	

In addition, the Prospectus is further supplemented by changing the entries under the column "Number of HIGH TIDES" with respect to the Selling Holders identified below to the corresponding entries below the column "New Number of HIGH TIDES" set forth below.

                                                               NEW
                                                              NUMBER
                                                                OF
                                                               HIGH
                       SELLING HOLDER                         TIDES
                       --------------                         ------
Credit Suisse First Boston Corporation......................  47,500
Jeffries & Company..........................................  50,000	

Prospectus Supplement dated April 18, 2001

As Record Owner for Lipper Convertibles, L.P. (Class B), the
  Beneficial Owner.