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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

Report Finds Xcel Service Standards Falsified

LCG, Mar. 14, 2003--Reporting by Xcel Energy Inc. on the duration of power outages was falsified, according to a report commissioned by Minnesota's Attorney General Mike Hatch, and the Minnesota Department of Commerce.

The report followed the Minnesota Public Utilities Commission's request that an investigation be launched into published allegations by unnamed sources that data had been changed. "It appears many different schemes have been used in order to keep durations down," the report by Eide Bailly LLP's Fraudwise said. Fraudwise is still investigating, and plans to produce a full report after the investigation.

"We are outraged at the accusations of corruption in our outage reporting system alleged in the Fraudwise report," a statement from Xcel said. Ken Zagzebski, the vice president of energy delivery, wrote, "We intend to refute each allegation and innuendo as soon as possible."

Xcel and state regulators arrived at a set of service standards during the creation of Xcel, through the merger of Northern States Power and New Centuries Energy Inc. in 2000. The agreement with regulators set penalties to be imposed if limits on outage durations or other standards were not met.
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