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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

Federal Court Says California Can't Deny Payment to Utilities

LCG, Jan. 9, 2001U.S. District Judge Ronald S. W. Lew yesterday ruled that regulating wholesale electricity rates was a federal matter and not the province of states, but said whether Southern California Edison Co. could collect some $5 billion from its customers would have to be settled in a trial.

SoCal Edison had sued the California Public Utilities Commission last November for refusing to allow it to pass on to its customers the wholesale prices the utility paid for power it delivered to them. While he agreed with the company that wholesale rates were subject to federal jurisdiction, he denied a motion to rule in the utility's favor without a trial.

Lew also denied a CPUC motion to dismiss the case, but said the regulatory body could pursue a claim that SoCal Edison failed to purchase lower cost power. Harvey Morris, a lawyer for the CPUC, said "We will investigate fully the alternatives (Southern California) Edison could have pursued and didn't."

Since late spring last year, SoCal Edison has been purchasing power at wholesale rates far higher than the retail rates it is allowed to charge. The company claims it is entitled to pass these costs through to its customers. Ron Olson, a utility lawyer, said yesterday "We are confident in the light of the ruling that we will ultimately prevail."

SoCal Edison said that if it wins the case it will spread the recovery of its money out over a five-year peiod in order to protect its customers from the non-electric shock of doubled electric bills.

Pacific Gas & Electric Co., which faces the same undercollection problem, said it saw hope in the judge's decision.

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