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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

'Not Much Achieved' in Indian Power Sector, Paper Says

LCG, Dec. 14, 2001--Despite reforms by the government of India aimed at boosting investments in infrastructure, "not much has been achieved" in the area of private financing, the Economic Times, an Indian business newspaper, said today.

The paper noted the brouhaha between once-mighty Enron Corp.'s Dabhol Power Co. in Bombay and the Maharashtra State Electricity Board, similar problems between AES Corp. of the U.S. and the government of the state of Orissa and the decision yesterday by U.S. firm Mirant Corp. to abandon its efforts in India, which included a $5 billion power project.

Not mentioned were earlier departures from India by Electricit de France, Cogentrix Energy Inc. and others.

The paper pointed to a report, India Infrastructure Report 2002, released Wednesday, which said true reform is waited in the power sector. The report says the "main reason for this is the non-resolution of a bankable security package for lenders, finalization of the escrow agreement and its operationalization," according to the Economic Times.

The government plans to bring under control huge transmission and distribution losses in the power sector through privatization of distribution, the report said. The paper said, however, that financial institutions feel distribution of power has never been an area of investment. Officials say a substantial investment in power distribution would lead to an increase in the tariff while the populace would expect a reduction to result from privatization.

The paper said the flaw in the policy with regard to electricity was the failure to recognize that the root of the problem lies in the financial unavailability of the state electricity boards, causing independent power projects to look for temporary solutions such as escrow arrangements and central government guarantees, according to the report.

The Indian power ministry has proposed a five-point strategy to convert the money-losing state electricity boards into "viable profit making concerns." There would be state-specific revival packages, a district-oriented nationwide distribution plan, conversion of all distribution feeders into profit centers, ensuring metering of all customer connections, and bringing state electricity board accounting procedures in line with international standards.

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