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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

Reliant and Dynegy Receive Federal Subpoenas

LCG, May 28, 2002--U.S. Attorneys have sent energy companies Reliant Resources and Dynegy subpoenas requesting energy trading documents.

The two companies verified that they received the subpoenas this weekend.

Last week Reliant Resources, 83 percent of which is owned by Reliant Energy Inc., restated its 2001 first quarter revenues after admitting it had participated in "round-trip" trades intended to boost trading volume. Reliant Resources says its trading was elevated by 10 percent due to these trades but intends to comply with the subpoenas.

Dynegy, which is under investigation by the Securities and Exchange Commission, says it will also comply with the U.S. Attorney's Office. Last week the company said it would alter its reported 2001 earnings by 12 percent. In addition, last week Dynegy reversed a $79 million tax benefit yielded from the natural gas-related Project Alpha.

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