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Energy Vault and Jupiter Power Announce New Agreement for Battery Energy Storage System in Texas

LCG, June 4, 2025--Energy Vault Holdings Inc. (Energy Vault) and Jupiter Power (Jupiter) today announced the signing of an agreement for the supply of an additional battery energy storage system (BESS) at a Jupiter site in the Electric Reliability Council of Texas (ERCOT) region. The initial BESS project, located near Fort Stockton, Texas, was completed in July 2024, with a storage capacity 100 MW/200 MWh. The new BESS project will add another 100 MW/200 MWh of capacity. Construction has commenced, and the project is expected to achieve commercial operations by the end of this summer.

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NuScale Power Achieves Standard Design Approval from NRC for 77 MW SMR

LCG, May 30, 2025--NuScale Power Corporation (NuScale), a leading provider of advanced small modular reactor (SMR) nuclear technology, yesterday announced that it has received design approval from the U.S. Nuclear Regulatory Commission (NRC) for its uprated 77 MW power modules. NuScale states that it remains the only SMR technology company with design approval from the NRC, and the company remains on track for deployment by 2030, with 50- and 77-MW SMR options.

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Industry News

Enron Prepared To Sell Trading Arm, Its Largest Source of Revenue

LCG, Jan. 14, 2002--UBS AG, Switzerland's largest bank, is prepared to take over Enron Corp's trading unit, relates the New York Times.

Enron will give up its equity stake, an unexpected development in the deal. Enron will have an interest in the venture's profits, although conditions of the deal will favor UBS' buyout of that interest after five years. If UBS decides against that move, its 33 percent royalty payments on profits would increase to 45 percent.

A rival bidder for the trading operations, Citigroup Inc., was passed over when Enron's unsecured creditor committee, representing banks and holders of Enron debt, selected UBS' offer.

In order for the deal to be realized, U.S. Bankruptcy Court Judge Arthur Gonzalez will have to approve the terms, which emerged from overnight negotiations in New York City. Documentation which will be submitted to the court will also be posted on Enron's website by 11 p.m. Eastern Standard Time.

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