Calpine Secures Texas Energy Fund Loan for Pin Oak Creek Peaking Facility In Freestone County

Core Insights - Calpine Corporation has secured a loan agreement from the Texas Energy Fund to develop a 460-megawatt peaking facility in Freestone County, Texas, which is currently under construction and expected to be operational by summer 2026 [1][2]. Company Overview - Calpine Corporation is the largest generator of electricity from natural gas and geothermal resources in the United States, operating 79 energy facilities with over 27,000 megawatts of generation capacity [3]. - The company serves customers in 22 states and Canada through its wholesale power operations and retail businesses, utilizing advanced technologies for low-carbon and environmentally responsible power generation [3]. - Calpine is positioned to benefit from industry trends such as the abundant supply of clean natural gas, environmental regulations, and the need for dispatchable power plants to integrate renewable energy into the grid [3]. Project Significance - The Pin Oak Creek Energy Center will enhance Texas's ability to meet increasing power demands driven by economic growth, providing reliable power during peak usage periods [2]. - The facility is designed for rapid ramp-up, ensuring that it can deliver power when needed most [2].