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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

Mirant Corporation Files for Bankruptcy Protection

LCG, July 15, 2003Facing an $1.1 billion payment, Mirant Corp. filed for bankruptcy protection late yesterday.

The Atlanta-based company filed its petition in U.S. Bankruptcy Court in Fort Worth, Texas, and has roughly $20.6 billion in assets and $11.4 billion in debt. The company said it had $1.17 billion in cash as of July 11 and has acquired a commitment for $500 million in debtor-in-possession financing.

According to Marce Fuller, Mirant president and chief executive officer, slow market conditions and a failure to obtain the timely support of [Mirants] key lenders, contributed to the decision to seek protection. The company lost $2.4 billion last year, and auditors found $188 million in overstated income. Allegations of market manipulation have also hurt the company.

Mirant is canceling its offer to exchange 2.5 percent convertible debentures due 2021 and its 7.4 percent senior notes due 2004, and Mirant Americas Generation LLC is terminating its offer to exchange 7.625 percent senior notes due 2006.

Mirant owns power generation and natural gas assets, as well as energy risk management and marketing capabilities.

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