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Sage Geosystems Announces Funding for Next-generation Geothermal Power Generation Project

LCG, January 21, 2026--Sage Geosystems, the company pioneering Pressure Geothermal, today announced that it closed over $97 million in Series B funding to advance its geothermal power generation and energy storage solutions, including its first commercial next-generation geothermal power generation facility. Ormat Technologies, a vertically integrated company engaged in geothermal and recovered energy generation ("REG"), and Carbon Direct Capital, a growth equity investment firm, co-led Sage’s Series B round, representing the full backing of Sage and Pressure Geothermal technology from leaders in geothermal energy and growth capital.

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Origis Energy Announces Agreement with Meta for Greyhound A Solar Project in West Texas

LCG, January 15, 2026--Origis Energy today announced that Meta and the company signed a long-term power purchase agreement (PPA) for the 240-MW (303-MWdc) Greyhound A Solar project in West Odessa, Texas. The Greyhound A Solar project is scheduled to achieve commercial operations by mid-2026.

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Industry News

Bulgaria to Shut Down Two Oldest Reactors

LCG, July 14, 2000--The government of Bulgaria, in a bid to enhance its acceptance into European Union membership, agreed yesterday to shut down the two oldest reactors at its 3,760 megawatt Kozlodui nuclear power plant.

Kozlodui, located on the Danube River about 125 miles north of Sofia, is Bulgarias only nuclear power plant, but provides about 40 percent of the countrys electricity. It consists of four 440 megawatt "old-style" Soviet reactors built without containment buildings and two 1,000 reactors that are more modern but still of Soviet design. The older reactors are considered by Western authorities to be unsafe.

Bulgaria had originally planned to phase out the four older reactors between 2004 and 2012 when they reached 30 years of age, but when the EU invited the country to begin talks which would lead to membership in the European Union, it was made plain that early closure of the older reactors would be a condition.

The EU has said it would provide Bulgaria with 200 million euros ($187 million U.S.) by 2006 to cover closure costs of the old reactors and to lend 250 million euros ($236 million) to bring safety systems at the 1,000 megawatters up to western standards.

Plant officials at Kozlodui say decommission costs for two of the older reactors could cost as much as $400 million.

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