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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

Corona to Seize Control of City Distribution

LCG, October 31, 2002-Corona City, California is fed up with the high rates and, they say, less than quality service from utility Southern California Edison and is expected to take over distribution within the city limits.

While no move has been made public as yet, the city will make an announcement today regarding electricity transmission within its borders.

If the city decides to take control of electricity distribution, it will form the first significant new municipal electric utility in California since 1947, when Sacramento formed SMUD (Sacramento Municipal Utility District).

SMUD was voted into existence in 1923 and involved several years of fundraising and twelve years of litigation, in regards to the price of distribution, in order to become a full-fledged municipal system.

The city of Corona may face similar challenges if it tries this route, especially considering that Southern California Edison says that it is not selling its system. The city has power of eminent domain, however, and has legal grounds on which to base a distribution takeover. Unfortunately, court costs may put the possibility of becoming a municipalized utility out of reach.

California currently has 30 municipal systems and several large investor-owned utilities, which include Southern California Edison, San Diego Gas & Electric, and Pacific Gas & Electric.

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