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Invenergy Announces New Agreements with Meta for Renewable Energy to Support Data Center Operations

LCG, June 26, 2025--Invenergy today announced that they and Meta Platforms, Inc. have signed four new clean energy agreements that total an additional 791 MW of procured solar and wind capacity to support Meta's near-term operations, data center growth, and clean energy goals.

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New York Power Authority to Develop New Nuclear Facility in Upstate New York

LCG, June 23, 2025--The Governor of New York today directed the New York Power Authority (NYPA) to develop and construct an advanced nuclear power plant in upstate New York to deliver zero-emission power that supports a reliable and affordable electric grid. NYPA will lead the effort to develop at least one new nuclear energy facility with a combined capacity of at least one gigawatt (GW) of electricity, either alone or in partnership with private entities. The directive builds on the Governor’s 2025 State of the State to develop nuclear energy plans in New York.

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Industry News

Calpine May Renegotiate California Power Contracts

LCG, Dec. 12, 2001--Calpine Corp. said yesterday it will meet later this week with California state officials to discuss long-term power contracts between the independent power producer and the California Department of Water Resources.

The contracts, negotiated last spring when the state was facing a future of rolling blackouts due to power shortages, are for electricity at prices significantly higher than the current spot market price of $25 per megawatt-hour.

The CDWR, which signed $43 million worth of those contracts at an average price of $69 per megawatt-hour, has been under intense pressure to renegotiate them.

Calpine did not say it would rewrite its contracts to give the state a better price.

"Calpine and the state stand behind their respective contractual obligations. However, we are open to working with (the CDWR) to explore options that can add value for both parties," said James Macias, Calpine's lead negotiator for the contracts.

Under two contracts, Calpine has contracted to provide the CDWR with up to 2,000 megawatts of baseload power and up to 735 megawatts of peaking power, all of it from its own natural gas-fueled power plants.

Because Calpine, at the time the contracts were negotiated, let contracts for the supply of natural gas fuel for the plants at then-high gas prices, it would be difficult for the company to now reduce the amount it is to be paid for the power, observers say.

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