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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

Virginia SCC Gives Approval for Dominion Virginia Power to Join PJM

LCG, November 11, 2004--The Virginia State Corporation Commission (SCC) yesterday authorized Dominion Virginia Power (DVP) to transfer control of its transmission assets to the PJM Interconnection (PJM). Although PJM will control the transmission system, DVP will retain ownership.

The Virginia Restructuring Act requires Virginia electric utilities to accomplish such transfers by January 1, 2005. As with the SCC's August 31, 2004 authorization to transfer AEP's Virginia assets to PJM, the SCC staff noted that PJM is the only RTO option available to meet the requirements of the Restructuring Act. The SCC staff also noted that the cost/benefit studies do not establish a significant economic detriment.

PJM has significantly expanded its operations this year. Last May, PJM integrated over 5,000 miles of transmission lines transferred by Commonwealth Edison (ComEd), becoming the world's largest grid operator. On October 1, PJM began managing the transmission lines of AEP and Dayton Power and Light Company. PJM now operates an integrated grid spanning twelve states.

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