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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

Argentina's Booming Economy Hit by Natural Gas Shortage

LCG, Apr. 5, 2004--Blackouts have affected numerous industries in Argentina, due to artificially low prices for natural gas that have stoked demand and deterred companies from unprofitable exploration efforts.

The situation, which has prompted utilities to lower voltage to keep power flowing, also caused the legislature during the past weekend weekend to permit gas companies to raise gas prices by 100 per cent, over a fifteen-month period. Prior to that step, it passed a resolution restricting the amount of exports to foreign countries, in order to make more natural gas available for power generation. Small users of gas, however, are protected from price increases, and will continue to pay for gas at a rate well below what is paid in other countries.

Gas prices were fixed at artifically low levels under an emergency decree in early 2002. Among other things, this encouraged the conversion of over one million vehicles to natural gas-burning engines, from gasoline-burning. The government of Nestor Kirchner has said that it will exchange exports of meat and grain for imports of fuel oil and gas oil from Venezuala, for use at electricity generating plants. Even with price increases, however, prices will be artificially low, and an excess of demand over supply is likely, unless the prices can rise sufficiently to encourage exploration and drilling for gas.
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