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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

Calpine May Renegotiate California Power Contracts

LCG, Dec. 12, 2001--Calpine Corp. said yesterday it will meet later this week with California state officials to discuss long-term power contracts between the independent power producer and the California Department of Water Resources.

The contracts, negotiated last spring when the state was facing a future of rolling blackouts due to power shortages, are for electricity at prices significantly higher than the current spot market price of $25 per megawatt-hour.

The CDWR, which signed $43 million worth of those contracts at an average price of $69 per megawatt-hour, has been under intense pressure to renegotiate them.

Calpine did not say it would rewrite its contracts to give the state a better price.

"Calpine and the state stand behind their respective contractual obligations. However, we are open to working with (the CDWR) to explore options that can add value for both parties," said James Macias, Calpine's lead negotiator for the contracts.

Under two contracts, Calpine has contracted to provide the CDWR with up to 2,000 megawatts of baseload power and up to 735 megawatts of peaking power, all of it from its own natural gas-fueled power plants.

Because Calpine, at the time the contracts were negotiated, let contracts for the supply of natural gas fuel for the plants at then-high gas prices, it would be difficult for the company to now reduce the amount it is to be paid for the power, observers say.

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