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DOE Announces Site Selection for Energy Infrastructure and AI Data Centers on Federal Lands

LCG, July 24, 2025--The U.S. Department of Energy (DOE) today announced the next steps in the Trump administration’s plan to accelerate the development of AI infrastructure by using Federal lands to lower energy costs and help power the global AI race, as previously outlined in President Trump’s Executive Orders on Accelerating Federal Permitting of Data Center Infrastructure, Deploying Advanced Nuclear Reactor Technologies for National Security, and Unleashing American Energy.

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Enbridge Announces 600-MW Solar Project in Texas to Power Meta Data Center Operations

LCG, July 22, 2025--Enbridge Inc. (Enbridge) today announced that it has reached a final investment decision on the Clear Fork solar project located near San Antonio, Texas. Meta Platforms, Inc. (Meta), has signed a long-term contract for all of the renewable power generated from the 600-MW project.

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Industry News

Lawsuit Brought by PG&E Over Revenue Bond Sale

LCG, Oct. 21, 2002--A lawsuit brought on Thursday by Pacific Gas & Electric Co. questions assumptions built into the sale of revenue bonds by the California Department of Water Resources, and could add to the cost of the bonds' repayment.

The suit had been anticipated, with the possibility of legal action being mentioned in a preliminary prospectus for the offering. It alleges that in the CDWR's deliberations, it held meetings which were not open to the public, and did not obey California law in determining "just and reasonable" revenue requirements. The bonds, to be repaid through a charge on customer bills of the three major investor-owned utilities, are intended to recover funds the agency spent on purchases of power on behalf of the utilities.

Pricing of the bonds depends on the ratings given the various types by the ratings agencies. Today, Standard & Poor's is expected to release ratings, after the PG&E lawsuit prompted it to conduct another review Friday. Fitch Ratings and Moody's Investors Service have signaled they will let their ratings stand. Fitch's vice chairman, Claire Cohen, told the Wall Street Journal, "If the court says something really horrendous, then we'll be reconsidering."

$5 billion worth in variable rate and tax-exempt bonds are being priced starting this week, according to State Treasurer Phil Angelides. An additional $6.95 billion of fixed-rate bonds are to be priced the following week, with the sale ending in another week's time.

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