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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

Private Equity Firm to Buy Eight Duke Power Plants

LCG, May 5, 2004--Duke Energy has said that it will reduce its ownership of merchant power plants by one-third, completely divesting itself of such plants in the southeastern U.S., after completing a planned sale of eight facilities to a private equity fund.

The sale, to the fund MatlinPatterson Global Opportunities Partners II, brings the total value of asset sales either announced or closed by Duke Energy to approximately $2.5 billion this year. The plants to be sold burn natural gas, are located in Arkansas, Georgia, Kentucky and Mississippi, and have a total capacity of 5,325 megawatts.

The completion of the sale is expected in the third quarter of the year, following the approval of each plant's sale by the Federal Energy Regulatory Commission, and the approval of the deal by the Federal Trade Commission.

The MatlinPatterson fund was started by a former banker with Credit Suisse First Boston, David Matlin, in autumn of 2003. Initially, its investments centered on distressed debt of companies such as MCI, formerly WorldCom. The fund will reportedly acquire the Duke plants for $475 million.
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