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XGS Energy and Meta Announce Agreement on Advanced Geothermal Project in New Mexico

LCG, June 13, 2025--XGS Energy, Inc. (XGS) and Meta Platforms, Inc (Meta) yesterday announced an agreement to support the development of a next-generation, geothermal energy project that will provide clean power to Meta’s data centers in New Mexico.

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AES Announces Construction Complete on 1,000-MW, Solar-Plus-Storage Project in California

LCG, June 11, 2025--The AES Corporation (AES) announced today that it has completed construction of the 1,000 MW Bellefield 1 project, which is under a 15-year contract with Amazon. Bellefield is a two-phase project, with each phase including 500 MW of solar plus 500 MW of a four-hour, battery energy storage system (BESS). When Phase II is completed in 2026, the total installed capacity will be 2,000 MW, and AES expects the total project will be the largest solar-plus-storage facility in the United States.

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Industry News

FTC Asked to Probe Enron for Possible Fraud

LCG, Dec. 26, 2001--The chairman of the Senate Commerce Committee and the leader of its Subcommittee on Consumer Affairs have asked the U.S. Federal Trade Commission to investigate Enron Corp. for possible fraud and misrepresentation of facts in connection with the company's spectacular collapse.

Reuters news agency reported this morning that Sens. Ernest Hollings, a South Carolina Democrat who heads the Commerce Committee, and Byron Dorgan of North Dakota, also a Democrat and chairman of the Consumer Affairs Subcommittee, wrote last Friday to FTC Chairman Timothy Muris, asking the commission to look into whether Enron engaged in "deceptive acts," "unfair methods of competition" or "any other conduct that the Commission would deem to be harmful to consumers."

Dorgan's subcommittee has already begun its own probe of Enron's nosedive and both the Securities and Exchange Commission and the Justice Department have investigations of their own underway. Enron chief executive Kenneth Lay is scheduled to testify before Dorgan's panel on February 4.

In their letter to Muris, the two senators said the ultimate cause of Enron's collapse "extends well beyond possible violations of securities regulations" and the case raises questions of possible commercial fraud, misleading disclosures, illegal accounting practices, illegal partnerships with third party entities and conflicts of interest.

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