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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

FERC Hands the Ball to Midwest ISO

LCG, Dec. 20, 2001--The Federal Energy Regulatory Commission yesterday approved the Midwest Independent System Operator Inc. as the regional transmission organization to manage an electricity grid stretching from North Carolina to North Dakota to Texas.

FERC said the rival Alliance RTO "lacks sufficient scope and size" and ordered it to combine its resources with the Midwest ISO to form a single transmission manager.

The Midwest ISO, which began operations last Saturday, may have to change its name to accommodate its geography, according to FERC Chairman Pat Wood.

The Midwest ISO began development well before the profit-motivated Alliance group, but about a year ago DPL Inc., Ameren Corp., Commonwealth Edison Co. and Illinois Power Co. shifted from Midwest to Alliance, and many saw the momentum shifting to the profit-making model.

But in August of this year, British electric power transmission company National Grid Group Plc was selected by Alliance members to manage the RTO's operations, making some state regulators a little uneasy about Alliance.

Commissioner Linda Breathitt backed Alliance. "The commission has not done all it could or should to allow Alliance to develop," she said yesterday.

But Commissioner William Massey disagreed. "We want an RTO in the Midwest of truly large scope in configuration," he said. "It will be pro-competitive and pro-consumer."

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