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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

Judge Pushes Enron to Complete Reorganization Plan

LCG, Feb. 21, 2003--After Enron Corp.'s bankruptcy filing, it seemed possible that the company could be reorganized under a new name and again reflect its traditional, asset-based roots, but it now seems much more likely that its assets will be liquidated.

Judge Arthur Gonzalez yesterday granted Enron an extension until April 30 to come up with a plan for distributing the proceeds of asset sales, hinting that this third extension may be the last. Enron has turned some of its former power plants and long-term energy delivery contracts into $1.7 billion thus far, but may be able to raise a total of $12 billion to $15 billion after further sales.

The complexity of the company's structure, with intertwined interests and obligations held by dozens of business units, has made the task of sorting out creditors' claims practically impossible. In addition, Enron has been subject to numerous investigations by federal authorities. A report will be produced by an examiner appointed by the court that is to detail how investment banks and law firms interacted with Enron.

Completion of the bankruptcy proceedings may now take another 10 months, during which billing by law firms and accountants are consuming roughly $30 million monthly. It may therefore be in creditors' favor to agree to a deal, rather than prolong competition between claims.
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