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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

PG&E Bankruptcy Judge Orders Reorganization Settlement Talks

LCG, Mar. 5, 2003--U.S. Bankruptcy Judge Dennis Montali stated in an order to utility Pacific Gas & Electric and the California Public Utilities Commission that while "the court is quite aware of the philosophical differences that separate (Pacific Gas) from CPUC ," representatives of each party would need to begin settlement talks concerning PG&E's emergence from bankruptcy.

Judge Randall Newsome will discuss prospects for negotiation with PG&E and the CPUC and recommend whether the effort should be pursued. Montali wrote, "While a prior mediation was unsuccessful, there is little to be lost, and potentially much to be gained, by ordering a judicially supervised settlement conference." PG&E will obey the order, according to spokesman Ron Low. The CPUC spokeswoman Sheri Inouye said, "We see this as a very positive development."

One of the most significant issues separating the PG&E and CPUC reorganization plans is how creditors of the utility are to be paid. PG&E wants to issue more equity than it had earlier proposed, up to $700 million worth, but less debt, with the option to issue secured debt. The CPUC plan would use debt and equity as well as higher retail rates, and runs counter to PG&E's plan to shift ownership of company assets to a set of new companies not regulated by the state.
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