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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

EdF's London Electricity Buys PowerGen Plant

LCG, Oct. 16, 2000British electric company PowerGen said this morning that is has sold its 2,000 megawatt Cottam power plant in Nottinghamshire to London Electricity for 398.3 million ($585.5 million U.S.).

The cash deal will give Electricit de France, London Electricity's owner, control of about 4.5 percent of the United Kingdom's generating capacity. Add in the power supplied to Britain through a cross-channel cable, and the French government-owned EdF will control almost 8 percent of UK demand.

The sale of the coal-fired Cottam station is part of PowerGen's larger plan to reduce debt by 1 billion and move from primarily a UK generation firm to a vertically-integrated utility with extensive supply business. PowerGen, which purchased U.S. utility LG&E Energy earlier this year is also eyeing further overseas acquisitions.

The deal is almost certain to prompt demands that France open its electricity market to investment by foreign firms. EdF has been active in making British acquisitions while the French government has been loath to open its own market, despite pressure from the European Commission.

Last February under threat of an EU lawsuit, France finally opened about a quarter of its market to foreigners, but has imposed so many restrictions that few, if any, such investments have been made. Even so, France's token "liberalization" came a year after a deadline set by EU directives.

Bruno Lescoeur, chief executive of London Electricity, said in a statement "Our aim is to build a vertically integrated business, strong in both generation and supply, and this acquisition is a further step towards achieving our ambition of becoming a major player in the UK energy industry."

No British power executive has been able to issue such a statement regarding the French energy industry.

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