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Natura Resources Announces Agreement with NGL Energy Partners to Develop 100-MW SMRs with Large-Scale Produced Water Treatment in the Permian Basin

LCG, February 4, 2026--Natura Resources LLC (Natura), a developer of advanced molten-salt nuclear reactors, announced yesterday that it has signed an agreement with NGL Water Solutions Permian LLC, a subsidiary of NGL Energy Partners LP (NGL), to pursue opportunities to combine Natura's advanced nuclear reactor technology with thermal desalination for power production and oil and gas produced water treatment. NGL transports, treats, recycles and disposes of more than 3 million barrels per day of produced and flowback water generated from crude oil and natural gas production in the Permian Basin.

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OPG Completes Darlington Nuclear Station Refurbishment Project Under Budget and Ahead of Schedule

LCG, February 2, 2026--Ontario Power Generation (OPG) announced today that construction on the four-unit Darlington Refurbishment project is now complete. Station staff are completing final testing, and the last unit is expected to return to service in the coming weeks. OPG stated that the overall project is currently four months ahead of schedule and $150 million under budget.

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Industry News

Mirant Looking for Partner to Provide Credit Support

LCG, Mar. 6, 2002--The power producer and energy trading company Mirant Corp. is in talks with potential providers of capital to bolster its trading operations.

Marce Fuller, Mirant's chief executive, confirmed the talks, which he told a Morgan Stanley-sponsored investor conference are being conducted with commercial banks, investment banks and insurance companies. If a deal is reached by June 30, as Mirant intends, the company would no longer need to support its trading by putting up $500 million of its own capital to provide liquidity.

Jeffrey Gildersleeve, an analyst with Argus Research, said, "you're at a disadvantage when you don't have a solid financial backbone. Potential customers might shy away." With its balance sheet under greater scrutiny following the collapse of Enron and retreating from its aggressive development of new power plants, Mirant hopes to improve its credit rating, downgraded to junk status by Moody's in December.

If Moody's were to restore the company's credit rating, it would mark an exceptionally fast reversal from the rating service, Fuller noted. While the company's creditworthiness is being monitored closely, in Gildersleeve's opinion, "it has become consensus that Mirant management has been extremely proactive in shoring up its balance sheet and proving its financial strength." One move in that direction was the sale of German utility Bewag AG, a deal worth about $1.2 billion.
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