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Gemma Power Systems Receives Notice to Proceed on a 1.2-GW Power Project in Texas

LCG, April 8, 2025--Gemma Power Systems (“Gemma”), a wholly owned subsidiary of Argan, Inc. (“Argan”), has received a notice to proceed on its previously announced engineering, procurement and construction (“EPC”) services contract with Sandow Lakes Energy Company, LLC (“SLEC”) for a 1.2-GW power plant in Lee County, Texas. Construction of the natural gas-fired, combined cycle facility is scheduled to commence this summer, with an expected project completion date in 2028

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NeuVentus Receives Storage Permits for its Texas Reliability Underground (TRU) Hub Salt Cavern Storage Project

LCG, April 4, 2025--NeuVentus, LLC ("NeuVentus") announced this week the receipt of a final order from the Railroad Commission of Texas (RRC) that grants a subsidiary of NeuVentus authority to create and operate 12 salt caverns for storage of a variety of gases (including natural gas and hydrogen) and liquids at its Texas Reliability Underground Hub ("TRU Hub") salt cavern storage project located in Liberty County, Texas.

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Industry News

British Energy Might Extend Nuclear Operating Lives

LCG, Sept. 23, 2003--Nuclear plants operated by British Energy could remain operational for an additional five years, if the utility can reach agreements with creditors, and a government bailout proceeds.

Intense negotiations are underway with creditors, with the looming threat that the trade and industry secretary could force the company into receivership by the end of the month if the talks are not successful. If the plants were not to keep running, and be replaced by new nuclear reactors, government ministers could feel intense political pressure over opposition to new facilities.

The UK relies on nuclear plants for about one-fifth of its power needs. If nuclear power declined, a shortage of power could result as carbon limits forced coal plants to shut down. Currently, the old nuclear reactors are scheduled to be shut down beginning in 2008. Before the announcement by British Energy, one nuclear plant was to remain by 2023.
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