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XGS Energy and Meta Announce Agreement on Advanced Geothermal Project in New Mexico

LCG, June 13, 2025--XGS Energy, Inc. (XGS) and Meta Platforms, Inc (Meta) yesterday announced an agreement to support the development of a next-generation, geothermal energy project that will provide clean power to Meta’s data centers in New Mexico.

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AES Announces Construction Complete on 1,000-MW, Solar-Plus-Storage Project in California

LCG, June 11, 2025--The AES Corporation (AES) announced today that it has completed construction of the 1,000 MW Bellefield 1 project, which is under a 15-year contract with Amazon. Bellefield is a two-phase project, with each phase including 500 MW of solar plus 500 MW of a four-hour, battery energy storage system (BESS). When Phase II is completed in 2026, the total installed capacity will be 2,000 MW, and AES expects the total project will be the largest solar-plus-storage facility in the United States.

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Industry News

California's Trans Bay Cable Gains Momentum

LCG, September 9, 2005--Babcock & Brown Power Operating Partners LLC announced yesterday that it received preliminary approval from the directors of the California Independent System Operator (ISO) for its proposed Trans Bay Cable, a $300 million electric transmission project designed to improve grid reliability and service to San Francisco.

The proposed high voltage direct current (HVDC) cable will extend 55 miles from Pittsburg to San Francisco via an underwater route in the San Francisco Bay and will be capable of delivering up to 400 MW into San Francisco. The project is scheduled to commence operations in 2009. Once completed, the operational control will be transferred to the California ISO.

Babcock & Brown Power Operating Partners LLC stated that approval from the California Public Utilities Commission (CPUC) is not necessary, as the other project participants, the City of Pittsburg and Pittsburg Power Co., are not regulated by the CPUC. Environmental approval is still required in order for construction to begin. On July 21, the Federal Energy Regulatory Commission (FERC) gave preliminary approval for the underlying rate principles.

Babcock & Brown Power Operating Partners LLC is a unit of Australia's second-largest investment bank, Babcock & Brown Ltd., which is based in Sydney.

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