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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

AES Sale of Colombia Assets to Fenosa Back On

LCG, Oct. 20, 2000--An agreed-upon deal between AES Corp. of the U.S. and Spain's Unin Fenosa for the Spanish company to purchase three Colombian electric companies from Venezuelan utility Grupo EDC following the acquisition of EDC by AES is apparently back on, after seeming to fall apart last month.

Yesterday, Grupo EDC said it had reached a "definitive agreement" with Fenosa for the sale of the Colombian utilities, Epsa, Electrocosta and Electricaribe, but did not disclose financial details. Under the earlier arrangement Fenosa would have paid $235 million for the companies.

EDC is anxious to get rid of its troubled Colombian assets because they are responsible for its inability to turn a profit. The company's Electricidad de Caracas unit which provides electric service to the Venezuelan capital posted a $9.1 million profit for the first half of 2000, but its Corporacin EDC subsidiary, which contains the Colombian firms and some non-energy assets, showed a loss of $14.3 million.

Whatever Fenosa pays for the three Colombian firms, EDC will book a large loss on their sale, as it paid $280 million for Epsa which serves the city of Cali and $275 million for the other two. Nevertheless, Richard Bulger, president of Grupo EDC said "We think this (sale) makes sense for the group and is consistent with our goal to focus more on our core operations in Venezuela."

Since acquiring an 87 percent interest EDC for $1.66 billion in a hostile takeover last June, AES has cut the Caracas utility's workforce by about 50 percent. A one-time charge to be taken in the second half of 2000 for the layoffs will further reduce EDC's earnings for the year, Bulger said.

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