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Invenergy Announces New Agreements with Meta for Renewable Energy to Support Data Center Operations

LCG, June 26, 2025--Invenergy today announced that they and Meta Platforms, Inc. have signed four new clean energy agreements that total an additional 791 MW of procured solar and wind capacity to support Meta's near-term operations, data center growth, and clean energy goals.

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New York Power Authority to Develop New Nuclear Facility in Upstate New York

LCG, June 23, 2025--The Governor of New York today directed the New York Power Authority (NYPA) to develop and construct an advanced nuclear power plant in upstate New York to deliver zero-emission power that supports a reliable and affordable electric grid. NYPA will lead the effort to develop at least one new nuclear energy facility with a combined capacity of at least one gigawatt (GW) of electricity, either alone or in partnership with private entities. The directive builds on the Governor’s 2025 State of the State to develop nuclear energy plans in New York.

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Industry News

Enron Prepared To Sell Trading Arm, Its Largest Source of Revenue

LCG, Jan. 14, 2002--UBS AG, Switzerland's largest bank, is prepared to take over Enron Corp's trading unit, relates the New York Times.

Enron will give up its equity stake, an unexpected development in the deal. Enron will have an interest in the venture's profits, although conditions of the deal will favor UBS' buyout of that interest after five years. If UBS decides against that move, its 33 percent royalty payments on profits would increase to 45 percent.

A rival bidder for the trading operations, Citigroup Inc., was passed over when Enron's unsecured creditor committee, representing banks and holders of Enron debt, selected UBS' offer.

In order for the deal to be realized, U.S. Bankruptcy Court Judge Arthur Gonzalez will have to approve the terms, which emerged from overnight negotiations in New York City. Documentation which will be submitted to the court will also be posted on Enron's website by 11 p.m. Eastern Standard Time.

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