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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

Bear Sterns to Acquire Interests in AEP Plants

LCG, Mar. 10, 2004--An agreement has been reached by American Electric Power and indirect subsidiaries of The Bear Stearns Companies Inc. that partial interests in four independent power plants will be sold by AEP for $156 million overall.

According to AEP's chairman, president and chief executive officer, Michael G. Morris, the plants are not part of the company's "core utilities" and do not represent an important part of its geographic strategy. Before the deal can be completed, it will require approval from partners and lenders as well as regulatory review.

The plants, all of which are gas-fired combined-cycle cogeneration facilities, include the 68-megawatt Brush II in Brush, Colo.; Thermo, a 272-megawatt plant in Ft. Lupton, Colo; Mulberry, a 120-megawatt plant in Bartow, Fla; and Orange, a 103-megawatt plant in Bartlow, Fla. AEP came to retain partial interests of between 40 and 50 per cent in each of the plants, which are qualifying facilities, when it merged with Central and South West Corp.

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