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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

Mississippi Agency Opposes FERC Vision of Competitive Markets

LCG, Oct. 9, 2003--The state agency in charge of regulating utilities in Mississippi, the Mississippi Public Service Commission, has filed documents with the Federal Energy Regulatory Commission that detail strong opposition to increased grid access for merchant power plants.

Southeastern legislators have been generally opposed to FERC's intended remaking of electricity markets by the standardization of rules and tariffs across large areas, on the grounds that Southeastern electricity prices are already low relative to prices elsewhere in the nation, and will rise if transactions with other parts of the country increase. Language in the Public Service Commission's filings calls FERC's policy direction "patently flawed" and says it "unlawfully infringes upon the jurisdiction of the states."

Whether or not momentum towards regional markets picks up speed or slows may depend on the outcome of work in Congress on national energy legislation. Sen. Trent Lott, R-Miss., hopes to impede FERC's ability to impose rules on the states. Utilities such as Southern Co., which has service territory through much of the South, feel competitive pressure from new merchant plants, and do not want to pay for transmission upgrades in other regions.

The merchant developer Calpine has produced analyses indicating that new generating units could replace 5,700 megawatts of older plants owned by Entergy, which has service territory in several states. Entergy disputes the basis on which the study's conclusions were made, citing what it sees as optimistic fuel cost savings, while Calpine contends that Entergy wants to protect its own subsidiaries through the bidding process.
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