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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

Tessera Solar Sells 850-MW Calico Solar Project

LCG, December 30, 2010--K Road Power acquired from Tessera Solar the Calico Solar Project, an 850-MW project located in the Mojave Desert near Barstow, California. A K Road spokesperson stated, "If fully constructed it would be the largest PV solar plant in the world." The Calico project would be the first built by K Road, an independent solar power developer established by former power sector professionals from Sithe Energies and Goldman Sachs.

The Calico Solar Project had been designed to use Tessera's SunCatcher technology, which employs a mirrored dish to focus sunlight to generate heat that is utilized by a Sterling engine. All government approvals were received to allow project development to commence on 4,613 acres of federal land. However, K Road plans to convert the first 750 MW of generating capacity from the SunCatcher technology to photovoltaic (PV) technology, with a future, 100-MW phase reserved to use the SunCatcher technology.

Using the more proven PV technology is expected by K Road to accelerate financing for the $3 billion project. The recent legislation extending the U.S. Treasury Grant program for renewable energy projects another year will also better enable financing for the project.

K Road plans to apply to the California Energy Commission (CEC) and Bureau of Land Management (BLM) for amendments to permits previously received by Tessera to incorporate the technology change before construction can commence. K Road expects that construction will start by mid-2011 and be completed approximately two years thereafter.

California passed a Renewable Portfolio Standard (RPS) Program that requires utilities to increase their electric supply procurement of eligible renewable generating resources by one percent of load per year, with the current requirement being 33 percent by 2020.
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