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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

Chinese Government to Break Up Power Company

LCG, Feb. 4, 2002--A plan issued by China's Politburo will result in a major restructuring of the State Power Corporation, separating its transmission grid and electric generation operations between independent companies.

The influence of the State Power Corporation will continue in a lesser form through its majority ownership of two transmission grid companies and at least three of four generation companies. Southern Power will operate the grid in the southern regions, while its counterpart, State Power Grid, will assume control in other areas.

Two of the generating companies, Beijing Datang Power Generation and Huaneng Power International, already have between 5 and 10 gigawatts of generating assets each, but will acquire more from State Power Corp. The other two, SP Power Generation and Guohua Power Generation, will have politically powerful connections - Li Xiaopeng, son of the second-ranking Communist party leader Li Peng, and the State Development Planning Commission, respectively.

Competition among generators will increase under the new arrangements, although the plan does not fully detail the role of State Power Corp., which is likely to direct some aspects of the market. By 2003, when new market arrangements will be in place, the government hopes that the new companies will have purchased most of the countrys independent, locally owned generators.
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