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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

Gradual Increase in Merchant Generation Proposed in Arizona

LCG, Sep. 30, 2002--The Arizona Corporation Commission, which regulates Arizona's utilities and power markets, put forth a plan last week suggesting that an increasing amount of power be supplied by long-term contracts bid by merchant suppliers and energy marketers to supply utilities' needs.

The percentage of utility Arizona Public Service's summer demand to be met by competitive bidding would be allowed to start at 30% next year, for a total of 1,951 megawatts. In addition, must-run power purchase agreements in areas with little surplus transmission could be privately negotiated.

According to an official with APS who was present at a hearing on Thursday, congestion on some transmission lines transmitting power from plants of Pinnacle West, the unregulated affiliate, would require that those plants be given top priority for such lines' use. Possible competitors of Pinnacle West disagreed with such a policy.

Price would be one of several criteria used in selecting bids, according to the ACC's plan. Other considerations cited were reliability, creditworthiness and system-wide benefits. By 2006, the ACC said, 2,898 megawatts of APS' capacity would be subject to competitive bid.
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