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Sage Geosystems Announces Funding for Next-generation Geothermal Power Generation Project

LCG, January 21, 2026--Sage Geosystems, the company pioneering Pressure Geothermal, today announced that it closed over $97 million in Series B funding to advance its geothermal power generation and energy storage solutions, including its first commercial next-generation geothermal power generation facility. Ormat Technologies, a vertically integrated company engaged in geothermal and recovered energy generation ("REG"), and Carbon Direct Capital, a growth equity investment firm, co-led Sage’s Series B round, representing the full backing of Sage and Pressure Geothermal technology from leaders in geothermal energy and growth capital.

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Origis Energy Announces Agreement with Meta for Greyhound A Solar Project in West Texas

LCG, January 15, 2026--Origis Energy today announced that Meta and the company signed a long-term power purchase agreement (PPA) for the 240-MW (303-MWdc) Greyhound A Solar project in West Odessa, Texas. The Greyhound A Solar project is scheduled to achieve commercial operations by mid-2026.

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Industry News

Bankrupt NRG's Plants Seen as Important to Reliability

LCG, July 18, 2003--NRG Energy, the bankrupt merchant developer, says that its losses from operating power plants under a supply contract with Connecticut Light & Power amount to $500,000 per day, and that it could have no cash left within less than a month with which to continue running the plants.

In a ruling in June, the Federal Energy Regulatory Commission (FERC) determined that NRG must honor its supply contract, which is scheduled to end at the end of the year. The grid administrator for New England, ISO-NE, has warned that the risks of not having enough power to supply customers in Connecticut would increase substantially during peak periods if capacity goes offline for any reason. NRG Energy has 25 generating units that have a combined potential output of 2,155 megawatts.

According to the New England Independent System Operator, areas throughout its territory would be vulnerable to blackouts in the absence of NRG's resources. It has urged FERC to "take whatever actions are necessary" to see that NRG's plants do not cease to operate.
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