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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

Reliant Pays $50 Million to Conclude Manipulation Investigation

LCG, Oct. 3, 2003--A settlement announced Thursday that ends investigation of alleged power market manipulation by Reliant Resources is an example that should be followed by other companies, Pat Wood III, chairman of the Federal Energy Regulatory Commission, stated.

Charges had been raised by FERC that subsidiaries of Reliant Resources withheld power from the market and placed manipulative bids to force prices upward. The agency released a transcript on its website earlier in the year in which traders talked about keeping capacity offline.

The settlement includes $25 million in civil penalties, and possibly the same amount again from revenues from electricity auctions. Reliant Resources agreed to pay nearly $14 million to customers of California's defunct Power Exchange over similar charges last winter, when FERC also discussed stripping it of trading privileges.

Three power trades that had received scrutiny, including one with BP Energy at Arizona's Palo Verde trading hub, will no longer be the subject of inquiries. Gov. Davis, repeating earlier dismissals of such settlements, said "Reliant ripped California ratepayers off for billions of dollars and FERC slaps them on the wrist."
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