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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

Lenders May Vote Today on Fate of Enron India Plant

LCG, May 17, 2001Lenders to the Dabhol Power Project owned by Enron Corp. in India will decide today whether to cancel the project's contract to sell power to the Maharashtra State Electricity Board, Indian newspapers said this morning.

Discussions yesterday, involving only one Indian lender, the State Bank of India, and foreign lenders, deferred a decision until today when India's Industrial Development Bank, the Industrial Finance Corp. of India, Canara Bank and ICICI Bank Ltd. will participate.

Indian financial reporters expect the lenders to authorize Dabhol Power Co. to issue a notice to terminate the contract with the MSEB, but the Indian lenders are expected to oppose the proposal. Unlike the foreign financial institutions, they do not have their loans backed by the Indian government's sovereign guarantee.

Dabhol Power is India's single largest foreign investment. The 740 megawatt first phase of the plant went into production last year and Enron, the MSEB, the state of Maharashtra and the Indian government have been feuding ever since as Enron's Indian customers have proved to be reluctant to pay their electric bills.

Next month, with the completion of the second phase of the project, Dabhol's capacity will more than triple to 2,184 megawatts, and now the MSEB says it doesn't need the power, even though it agreed in 1995 to purchase all the output of the huge plant.

With their federal guarantees, foreign investors could walk away from Dabhol more or less whole, but Indian lenders have an exposure of about $1.4 billion.

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