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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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FERC Approves Vistra's Plan to Acquire Nearly 2,600 MW of Gas-fired Power Plants

LCG, October 6, 2025--Vistra today announced that the Federal Energy Regulatory Commission (FERC) approved Vistra's acquisition of certain subsidiaries owning seven natural gas generation facilities from Lotus Infrastructure Partners. The acquisition was announced last May, and Vistra expects the transaction to close this quarter or during the first quarter of 2026. Vistra's acquisition remains subject to approval by the New York Public Service Commission and other customary closing conditions.

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Industry News

NRG Said to Offer Ownership Stake to Lenders

LCG, Nov. 11, 2002--With serious liquidity difficulties weighing it down, NRG Energy Inc., the unregulated power developer, has offered to give ownership in the company to lenders and creditors, sources have told the Wall Street Journal.

The company, which was previously spun off from parent Xcel Energy Inc. and later bought back by the Midwestern utility, has $10 billion in debt outstanding. It has failed to make debt payments repeatedly since September. Part of its current negotiations are said to involve Chapter 11 bankruptcy proceedings.

Approximately half of NRG's debt is secured by power projects in its portfolio, which includes 68 plants either operating or under development. Most of the plants are in the East or South-Central parts of the U.S.

According to people who have had access to presentations by NRG, the company, which is not discussing negotiations at the present time, offered a 95% equity stake to lenders and bondholders at the holding-company level. Lenders to individual power projects that may not be fully developed could receive the remaining 5%. Negotiations for more than 100 banks that took part in syndicated loans are being led by the Credit Suisse Group's Credit Suisse First Boston unit and ABN Amro Holding.
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