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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

California Fines SoCal Gas $3.5 Million

LCG, Sept. 11, 2000California regulators have fined Southern California Gas Co. $3.5 million for allegedly bilking 500 property owners out of fair value for mineral rights and then lying about it to the California Public Utilities Commission.

The fine was part of a settlement agreement reached with the utility Thursday that will allow the property owners to unwind their deal with the company. SoCal Gas agreed to the settlement without admitting wrongdoing.

SoCal Gas is a subsidiary of Sempra Energy Inc. and a sister company to San Diego Gas & Electric Co. which has had regulatory problems of its own as consumers have seen their electric bills more than double this summer.

The $3.5 million fine will go to the state, and not the property owners. In voting unanimously to fine the company, regulators conveyed the impression they didn't like being misled. Details of the utility's mendacity were not disclosed.

As part of the settlement, Sempra must develop an ethics course for employees of SoCal Gas and its other subsidiaries.

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