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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

New York's LIPA Delays Decision On KeySpan Generators

LCG, Feb. 27, 2002--New, undisclosed information has caused the New York State-owned Long Island Power Authority to forego making a decision at its regular Feb. 28 meeting on whether to buy power plants on Long Island from KeySpan.

Rather, the Board of Trustees will hold a special meeting on March 12. Under an agreement with KeySpan, which was formed by the merger of Brooklyn Union and Long Island Lighting Co. (LILCO), LIPA would need to purchase all or none of the plants.

Currently, LIPA owns Long Island's transmission and distribution system, which it acquired from the financially distressed LILCO. KeySpan owns Long Island-based natural gas assets in addition to the generating plants valued at about $1.5 billion. The plants have a capacity of about 4,000 megawatts, which can supply approximately four million homes.

If LIPA acquired the plants, it would not have to pay federal income taxes as KeySpan does, which could lower rates. A committee that recommended the purchase found that LIPA would be more likely than KeySpan to sell the plants, which could increase competition. If two-thirds of the Board approves the purchase by the deadline of May 27, the state Public Authorities Control Board would also need to give its approval. That agency tracks debt levels for public benefit corporations, of which LIPA is one.
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