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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

Consumer Group Sues CPUC Over 'Ratemaking' in Bankruptcy Plan

LCG, Apr. 11, 2002--A lawsuit has been filed today in the California Supreme Court by the Foundation for Taxpayer and Consumer Rights against the state Public Utilities Commission over the agency's plan to direct ratepayer revenue to paying down the debt of Pacific Gas & Electric Co.

Doug Heller, the group's spokesman, said, "by state law, the commission is not allowed to do ratemaking in closed session. If they are proposing an alternate PG&E plan to extend a rate hike, that's doing ratemaking." The CPUC has been given a deadline of April 15 by U.S. Bankruptcy Court Judge Dennis Montali by which it must submit a more detailed reorganization plan to be considered alongside Pacific Gas & Electric's own plan.

The CPUC plan would cause Pacific Gas & Electric to suspend shareholder dividends, refinance long-term debt, and would maintain retail electricity rates at current levels. When the CPUC's plan was first released for review, president Loretta Lynch said that Pacific Gas & Electric was building cash reserves because it was receiving higher revenues from power sales than the cost of supplying the power. The company contended that the CPUC's plan severely underestimated the amount of PG&E's debt and liabilities.
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