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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

India's Financial Credibility on the Ropes

LCG, June 4, 2001"There has been a lot of slippage" over the past year in India's efforts to build credibility with foreign investors, according to Moody's Investors Service which has pegged the country's credit at Ba2, two notches below investment grade since mid-1998, but Moody's has no plans to change its positive outlook for the time being.

"We do discuss whether the rating is appropriate given the risks we see and whether the positive outlook is still warranted," Kristin Lindow, Moody's lead India analyst, said Friday, "But as of this moment we have not decided to change that."

Standard & Poor's said last week that it was concerned about the size of India's budget deficit and on Thursday a third credit rating agency, Fitch, lowered its rating outlook on India's sovereign debt from stable to negative, citing deterioration of the nation's foreign investment climate.

India's financial credibility suffers from high combined deficits of the federal and state governments, amounting to about 10 percent of gross domestic product, insufficient budget cutting efforts and problems associated with Enron Corp.'s investment in a huge power project in Maharashtra state.

Enron's Dabhol Power Co. is the single largest foreign investment in India and is in danger of collapse, due to failure of the Maharashtra State Electricity Board to honor contracts signed in the mid-1990s.

"The dispute indicates that India's government may not be willing to live up to its contractualobligations," Lindow said. "As a consequence, this would further deter foreign direct investment fromcoming into the country."

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