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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

San Francisco Offered Peaking Turbines

LCG, DEc. 16, 2002--As part of a settlement between California and Williams Energy Cos. on multi-billion-dollar energy contracts, San Francisco has the option to finance construction of four gas turbines, which would be provided at no cost by the energy company.

The Board of Supervisors is scheduled to vote today on whether to accept the turbines, which would be delivered along with $12 million out of $147 million being paid by Williams Energy to California as part of the settlement. If the turbines operate within the city, the Department of Water Resources would purchase their output under a 10-year contract, after which the city would be able to operate the plants as it needs.

The capacity of the units, which are peaking turbines, is a total of 200 megawatts, compared to the 163-megawatt Hunters Point plant owned by PG&E. Mayor Willie Brown, environmentalists and residents within the Hunters Point district have called for Hunters Point being shut down, due to its being a source of pollution. The city receives much of its electric power from plants not on the peninsula, with transmission lines delivering power through San Mateo County. Roughly 30 percent of San Francisco's usage depends on Hunters Point and the Potrero Hill plant, owned by Mirant.

A federal deadline of Jan. 1, 2005 for new clean air standards to take effect may necessitate a retrofit of Hunters Point, if it is not shut down at that time. The turbines being proposed would reportedly produce 16 times less ozone-creating pollution than Hunters Point.
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