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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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FERC Approves Vistra's Plan to Acquire Nearly 2,600 MW of Gas-fired Power Plants

LCG, October 6, 2025--Vistra today announced that the Federal Energy Regulatory Commission (FERC) approved Vistra's acquisition of certain subsidiaries owning seven natural gas generation facilities from Lotus Infrastructure Partners. The acquisition was announced last May, and Vistra expects the transaction to close this quarter or during the first quarter of 2026. Vistra's acquisition remains subject to approval by the New York Public Service Commission and other customary closing conditions.

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Industry News

Power Supply Contract Contested by CA Agency is Upheld

LCG, May 21, 2003--A contract signed by the California Department of Water Resources to buy power from Sempra Energy for 10 years is valid, the San Diego Superior Court ruled in a summary judgement.

The Department of Water Resources (DWR) signed the agreement in 2001, but later claimed that it had been given incorrect indications concerning Sempra Energy's obligations under the contract, especially concerning where and from what source power would be supplied. The state agency will be given 60 days in which to appeal the ruling once the final judgement is issued.

"We are very pleased with today's ruling and the court's confirmation that the contract provides the flexibility to supply power from either company power plants, the marketplace or any combination of sources," Donaled E. Felsinger, group president, Sempra Energy Global Enterprises, said.

In the ruling, Judge Wayne L. Peterson of the Superior Court of California, County of San Diego, said "The contract cannot reasonably be interpreted the way DWR has elected to interpret it." DWR threatened last year to void its $7 billion deal with Sempra in the spring of 2002, when it asserted that Sempra should make "commercially reasonable" efforts to bring a 300-megawatt power plant near Bakersfield, called Elk Hills, on line. It objected to Sempra obtaining power on the open market to satisfy the contract.

Sempra will have approximately 1,500 megawatts of new capacity on commercial status within several weeks.
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