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X-energy and Dow Submit Application to the NRC to Construct an Advanced Nuclear Project in Texas

LCG, March 31, 2025--Dow and X-Energy Reactor Company, LLC ("X-energy") today announced the submission of a construction permit application to the U.S. Nuclear Regulatory Commission ("NRC") for a proposed advanced nuclear project in Seadrift, Texas. The proposed advanced small modular reactor ("SMR") project could begin construction later this decade and commence operations early next decade.

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Avangrid's 238-MW True North Solar Project Achieves Commercial Operation

LCG, March 27, 2025--Avangrid, Inc., a member of the Iberdrola Group, today announced that its True North Solar project, located in Falls County, Texas, has achieved commercial operation. The True North Solar project will deliver electricity into ERCOT and support Meta's operations, including Meta's upcoming data center in neighboring Temple, its second data center in Texas.

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Industry News

Peco to Buy 49.9 Percent of Sithe, May Take All

LCG, Aug. 14, 2000--Peco Energy Co. said this morning that it had signed an agreement with French utilities and media conglomerate Vivendi to take a 49.9 percent stake in its Sithe North America electric power business for $682 million.

The sale by Vivendi comes about a year after the company said it would sell its 60 percent interest in Sithe, the balance of which is owned by the American companys management and Marubeni Corp. of Japan. Peco said it had options to purchase the remaining interests in Sithe over the next two to five years.

Sithe recently sold several of its power plants to Reliant Energy Inc. for $2.1 billion but still will add about 3,800 megawatts to Pecos generation portfolio. When Peco completes its merger with Unicom Corp., parent company of Chicagos Commonwealth Edison Co., the combined business will have around 46,000 megawatts of total capacity.

Vivendi said the sale would cut its debt by close to 4 billion euros ($3.6 billion U.S.) and produce capital gains of about 150 million euros ($135 million). The sale is expected to help the French company in its planned takeover of Seagrams of Canada.

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