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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

Iceland Chooses Hydrogen

LCG, June 3, 2002-Iceland has decided to phase out fossil fuels, choosing to power the country by means of hydrogen fuel cells.

Iceland, which is home to a mere 278,000, already powers 93 percent of homes with geothermal-derived electricity. Now the country will switch its vehicles to hydrogen, with the help of DaimlerChryler, Royal Dutch Shell, and Norsk Hydro. The three companies will invest in the newly-created Icelandic New Energy.

Hydrogen fuel, which produces water as its only exhaust, will be produced relatively emission-free by way of hydroelectric and geothermal sources.

DaimlerChrysler is responsible for the design of new Icelandic buses, which will be in service next year.

Iceland is more ambitious than merely converting the buses, however, and plans eliminate the need for fossil fuel from its 180,000 vehicles over a period of 30 or 40 years.

Icelandic electricity production is already clean, but the country suffers from high carbon dioxide emissions because of its metal smelting industry.

Although hydrogen, when used as a fuel, is a pollution-free energy source, the volatile element needs to be obtained by some method usually requiring a lot of energy since hydrogen does not easily exist alone and unreacted in nature. Electrolysis separates water with the help of electricity yielding oxygen and hydrogen, which is the reverse reaction of hydrogen when it acts as a fuel producing electricity and water. Other sources of hydrogen, such as hydrogen-producing algae, are currently being researched.

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