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Calpine Closes Texas Energy Fund Loan for 460-MW Pin Oak Creek Peaking Facility

LCG, October 14, 2025--Calpine Corporation today announced the close of a Texas Energy Fund (TxEF) loan agreement to support development of the Pin Oak Creek project, a 460-MW, natural gas-fired peaking facility adjacent to Calpine's Freestone Energy Center, a gas-fired combined-cycle facility located on approximately 506 acres near Fairfield, Texas.

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Greenflash Infrastructure Closes Transaction for ERCOT's Largest Battery Storage Project Under Construction

LCG, October 7, 2025--Greenflash Infrastructure, L.P. ("Greenflash") today announced that it has successfully closed a hybrid tax capital and debt financing for Project Soho - a 400MW / 800MWh standalone battery storage project in Texas.

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Industry News

New Power Draws Attention of PUC for Billing Practices

LCG, Sep. 16, 2002--The New Power Co., part of an Enron subsidiary created in 1999, may be fined $3.91 million by the Public Utility Commission of Texas due to its failure to itemize charges on bills sent to power and gas customers.

Bills sent to thousands of customers were said by PUC staff to contain unexplained charges for past costs incurred by New Power for transmission and distribution service. While New Power apparently experienced some delays in being billed for such services itself, rules set by the PUC do not permit charges for items more than six months old. Power costs were shown without reference to quantity used by the customer or the price for given quantities of usage.

The suggestion by the Texas PUC staff to fine the company is not likely to yield any payment by the company, which was meant to serve customers in deregulated power and gas markets. New Power and its parent NewPower Holdings, Inc. have already filed for bankruptcy. Possible billing violations by New Power's Pennsylvania operations are also under investigation.
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