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Calpine Closes Texas Energy Fund Loan for 460-MW Pin Oak Creek Peaking Facility

LCG, October 14, 2025--Calpine Corporation today announced the close of a Texas Energy Fund (TxEF) loan agreement to support development of the Pin Oak Creek project, a 460-MW, natural gas-fired peaking facility adjacent to Calpine's Freestone Energy Center, a gas-fired combined-cycle facility located on approximately 506 acres near Fairfield, Texas.

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Greenflash Infrastructure Closes Transaction for ERCOT's Largest Battery Storage Project Under Construction

LCG, October 7, 2025--Greenflash Infrastructure, L.P. ("Greenflash") today announced that it has successfully closed a hybrid tax capital and debt financing for Project Soho - a 400MW / 800MWh standalone battery storage project in Texas.

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Industry News

AES Announces Construction Complete on 1,000-MW, Solar-Plus-Storage Project in California

LCG, June 11, 2025--The AES Corporation (AES) announced today that it has completed construction of the 1,000 MW Bellefield 1 project, which is under a 15-year contract with Amazon. Bellefield is a two-phase project, with each phase including 500 MW of solar plus 500 MW of a four-hour, battery energy storage system (BESS). When Phase II is completed in 2026, the total installed capacity will be 2,000 MW, and AES expects the total project will be the largest solar-plus-storage facility in the United States.

The Bellefield project is located on about 8,300 acres of privately owned land in Kern County, California. A 14-mile transmission line connects the project to a Southern California Edison (SCE) substation. To accelerate the project implementation and ensure system reliability, AES noted that it used an AI-enabled robotic system that AES developed to assist construction crews, improving the safety, speed, and accuracy of solar module installation. When Bellefield 1 is placed in service later this year, AES expects to recognize significant earnings. Construction on Bellefield 2 is on track to be completed in 2026.

The President and Chief Executive Officer of AES stated, "Completing the first 1,000 MW of Bellefield demonstrates how rapidly solar and storage can be deployed to meet the growing energy demand of data centers. Our best-in-class track record of delivering renewables projects on time and on budget is deeply valued by our customers and is one of our key competitive advantages."

In June 2023, AES announced the acquisition of the 2,000 MW Bellefield project, which at the time was in late-stage development. The project represents a significant step in accelerating California's goal to achieving carbon-free energy.
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