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Sage Geosystems Announces Funding for Next-generation Geothermal Power Generation Project

LCG, January 21, 2026--Sage Geosystems, the company pioneering Pressure Geothermal, today announced that it closed over $97 million in Series B funding to advance its geothermal power generation and energy storage solutions, including its first commercial next-generation geothermal power generation facility. Ormat Technologies, a vertically integrated company engaged in geothermal and recovered energy generation ("REG"), and Carbon Direct Capital, a growth equity investment firm, co-led Sage’s Series B round, representing the full backing of Sage and Pressure Geothermal technology from leaders in geothermal energy and growth capital.

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Origis Energy Announces Agreement with Meta for Greyhound A Solar Project in West Texas

LCG, January 15, 2026--Origis Energy today announced that Meta and the company signed a long-term power purchase agreement (PPA) for the 240-MW (303-MWdc) Greyhound A Solar project in West Odessa, Texas. The Greyhound A Solar project is scheduled to achieve commercial operations by mid-2026.

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Industry News

Bankruptcy Court Okays PG&E Payment to Calpine

LCG, Dec. 26, 2001--Calpine Corp. said Monday that the U.S. Bankruptcy court in San Francisco has approved payment of more than $265 million by Pacific Gas & Electric Co. for electricity sold to Calpine between December 2000 through April 2001.

Calpine said without elaboration that the back bills were those of its "qualifying facility" affiliates. The company was likely referring to The Geysers, 14 geothermal power plants purchased from PG&E in May, 1999 for $212.8 million.

The Geysers, located about 90 miles northeast of San Francisco in Sonoma and Lake counties, is the world's largest producing geothermal resource, with more than 1,000 megawatts in production. It has been in operation for 39 years and Calpine has been active there since 1987.

The court's order calls for PG&E to make monthly payments to Calpine beginning this coming December 31 and continuing until the earlier of Nov. 30, 2002, or the date when PG&E's plan of reorganization becomes effective.

Calpine said it planned to sell the receivables in order to generate cash proceeds in this calendar year.

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