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Calpine and ExxonMobil Sign CO2 Transportation and Storage Agreement for CCS Project in Texas

LCG, April 24, 2025--Exxon Mobil Corporation (ExxonMobil) announced yesterday an agreement with Calpine Corporation (Calpine) to transport and permanently store up to 2 million metric tons per annum (MTA) of CO2 from Calpine’s Baytown Energy Center, a natural gas-fired facility located near Houston, Texas. This is part of Calpine’s Baytown Carbon Capture and Storage (CCS) Project that is designed to add CCS for the facility’s CO2 emissions. The Calpine facility could then provide a 24/7 supply of low-carbon electricity to the Texas grid plus steam to nearby industrial facilities.

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Doral Renewables Selects NovaSource as Partner to Deploy the 1.6-GWdc Mammoth Solar Project in Indiana

LCG, April 21, 2025--NovaSource Power Services ("NovaSource") recently announced that it has partnered with Doral Renewables and has been selected as the Operations and Maintenance ("O&M") and Generator Operator ("GO") for the Mammoth Solar Project, one of the largest agrivoltaics facilities in the United States.

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Industry News

CP&L-Florida Progress Merger to Close Thursday

CP&L, Sets Closing Date for Florida Progress Takeover
LCG, Nov. 27, 2000--CP&L Energy Inc. said in a its acquisition of Florida Progress Corp. is scheduled to close on Thursday, pending receipt of regulatory approval from the Securities and Exchange Commission under the Public Utility Holding Company Act.

The company said in its statement "Florida Progress shareholders will receive $54 in cash or CP&L Energy common stock, plus one Contingent Value Obligation related to cash flows from certain synthetic fuel plants, for each share of FPC stock. Florida Progress shareholders have the right to elect cash or CP&L Energy common stock having a value of $54, subject to proration if the elections exceed 65 percent in cash or 35 percent in stock."

Florida Progress shareholders have until 5:00 p.m. New York time tomorrow to make up their minds, the company said.

CP&L claims the combination will create one of the nation's 10 largest energy companies based on a generating capacity of more than 19,000 megawatts and 2.8 million customers in the Carolinas and Florida.

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