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Calpine and ExxonMobil Sign CO2 Transportation and Storage Agreement for CCS Project in Texas

LCG, April 24, 2025--Exxon Mobil Corporation (ExxonMobil) announced yesterday an agreement with Calpine Corporation (Calpine) to transport and permanently store up to 2 million metric tons per annum (MTA) of CO2 from Calpine’s Baytown Energy Center, a natural gas-fired facility located near Houston, Texas. This is part of Calpine’s Baytown Carbon Capture and Storage (CCS) Project that is designed to add CCS for the facility’s CO2 emissions. The Calpine facility could then provide a 24/7 supply of low-carbon electricity to the Texas grid plus steam to nearby industrial facilities.

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Doral Renewables Selects NovaSource as Partner to Deploy the 1.6-GWdc Mammoth Solar Project in Indiana

LCG, April 21, 2025--NovaSource Power Services ("NovaSource") recently announced that it has partnered with Doral Renewables and has been selected as the Operations and Maintenance ("O&M") and Generator Operator ("GO") for the Mammoth Solar Project, one of the largest agrivoltaics facilities in the United States.

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Industry News

AEP Shareholder Resolution Emphasizes Risk in Emissions

LCG, Apr. 23, 2003--An AEP shareholder resolution seeking stronger actions by the company to detail measures it is taking to reduce its emissions and assess the possible effects of emissions regulation on its profitability received notable institutional support, with 26.9% of shares voted in favor today.

The resolution was recommended by Institutional Shareholder Services Inc. (ISS), which provides advice to management of pension and mutual funds. Connecticut's pension fund and Christian Brother Investment Services Inc. filed the resolution, expressing the opinion that business risks from emissions need to receive exposure due to the evolution of policy on greenhouse gases. AEP executives responded by saying that profitability could be hurt by further emissions-related investment, and that the company is distinguished by having pursued emission reduction more strongly than its competitors.

A spokesman for AEP, which produces approximately 70% of its electric power from coal, told The Wall Street Journal after the vote, "It looks as if many of them followed the ISS proposal." ISS supported a resolution advocating more focus on renewable energy by ExxonMobil last year which received 20% of the vote. It has also opposed similar measures in the case of Weyerhaeuser Co., a maker of forest products, and for PG&E Corp.
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