Competitive Power Highlights | November 2025
As temperatures drop and energy demand rises, competitive power suppliers are pressing forward with investments to strengthen grid reliability and affordability over the long term.
EPSA members are leading the way with multiple major projects—from new generation and energy storage to innovative infrastructure upgrades—helping ensure that power is available when and where it’s needed. From Calpine’s planned peaking facility in Texas to CPV’s $1.1 billion Basin Ranch project in the Permian Basin and Constellation’s $340 million environmental and operational improvements at Maryland’s Conowingo Dam, their efforts are critical to maintaining the strength and resilience of the competitive electricity markets in coming winters and year-round. Together, these projects highlight how private investment is reinforcing the foundations of the power system that keeps the lights — and heat — on when it’s needed most.
Read for more updates from Calpine, Competitive Power Ventures, Constellation, Earthrise Energy, Jupiter Power, Invenergy, NRG Energy, Talen Energy, Tenaska, and Vistra Corp.
Calpine Advances ERCOT Reliability With New Peaking Facility
Calpine closed a Texas Energy Fund loan agreement to develop Pin Oak Creek Energy Center, a 460-megawatt peaking facility next to the Freestone Energy Center, in Freestone County, Texas, that will be operational in 2026.
“Calpine is proud to demonstrate our commitment to Texas with support from the Texas Energy Fund Loan Program for our new Pin Oak Creek Energy Center in Freestone County,” said Caleb Stephenson, Executive Vice President, Commercial Operations at Calpine. “This 460-megawatt, state-of-the-art facility will be up and running before the summer of 2026. Designed to start within minutes, this facility will deliver safe, reliable power exactly when Texans need it most.”
The Pin Oak Creek Energy Center will provide flexible generation to meet peak energy demand, helping Texas maintain grid reliability and support economic growth and increasing power consumption.
CPV Secures $1.1 Billion Loan for 1,350-Megawatt Basin Ranch Project
Competitive Power Ventures announced it would receive a $1.1 billion low-interest Texas Energy Fund loan to build the 1,350-megawatt CPV Basin Ranch, a combined-cycle natural gas plant in the Permian Basin, with operations expected to begin in 2029.
Sherman Knight, CEO of Competitive Power Ventures, says, “CPV is committed to responding to Texas’s rapidly growing demand for new, dispatchable power generation… Texas offers the opportunities and incentives to drive future development, our team at CPV looks forward to doing our part to make this a reality.”
Governor Greg Abbott praised the project’s contribution to Texas’ energy growth, stating, “Texas is powering the future of reliable, affordable energy across the nation and around the world. Through the Texas Energy Fund, CPV Basin Ranch will bring hundreds of megawatts of new, reliable power online and help keep prices affordable.”
Once complete, CPV Basin Ranch will provide enough energy to power 850,000 West Texas homes, bolstering ERCOT grid stability and ensuring reliable performance during periods of peak demand and extreme weather.
Constellation Reaches $340 Million Agreement for Conowingo Dam Improvements
Vistra announced plans to build two new advanced natural gas power units at its Permian Basin Power Plant, tripling the site’s current capacity from 325 MW to 1,185 MW.
President and CEO Jim Burke said the expansion highlights Vistra’s leadership in meeting Texas’ growing power needs, “As the leading competitive generator in Texas, customers from residential to commercial and industrial are turning to Vistra to help them meet their energy needs. We recognize that energy is critical to powering this economic opportunity, and we expect Texas will play an outsized role.”
Constellation Restarts Crane Nuclear Facility to Boost Clean, Reliable Power
Constellation Energy reached a $340 million agreement with the State of Maryland to improve water quality at the Conowingo Dam, the largest source of renewable energy in the state which flows into the Susquehanna River and Chesapeake Bay.
The agreement clears the way for the dam’s re-licensing and continued operation while committing to significant environmental investments.
Maryland Governor Wes Moore said the agreement reflects a balanced path forward for clean energy and conservation, noting that “the Chesapeake Bay is the keystone to Maryland’s prosperity. This agreement will lead to real improvements in water quality in the biggest tributary of the Chesapeake Bay, while securing the future of one of our state’s largest clean energy producers. By bringing everyone to the table, we have struck an agreement that is good for the environment, good for energy production, and good for Marylanders.”
Earthrise Proposes New Solar Project
Earthrise Energy proposed a 260-megawatt solar farm in Illinois that will be able to power 40,000 homes. Construction will be divided into two parts, with the first beginning in early 2026.
In addition, Earthrise has proposed a one-time payment of $100,000 to the community that can be used toward creating a new Animal Control Agency to help ensure property handling and coordination of stray animals. This follows more than $1 million in community grants and scholarships, including a $50,000 donation to improve Monee Reservoir’s visitor center and a $32,974 grant to the Manhattan Fire Protection District.
EPSA Members Form Partnerships to Develop Energy Storage
Jupiter Power partnered with Austin Energy to provide up to 100 MW of electricity from a utility-scale battery energy storage system in Texas that will capture electricity during periods of low demand and deliver it back when the grid needs it the most.
Mayor Kirk Watson says, “This battery storage project boosts our grid, but it’s more than an investment in infrastructure — it’s a commitment to a cleaner, more resilient energy future for Austin.”
Talen Energy will collaborate with Eos Energy Enterprises to explore developing energy storage capacity to help meet demand for artificial intelligence infrastructure in Pennsylvania.
The partnership will use Eos’ American-made Z3 zinc batteries and Talen’s existing power plants, including retired fossil fuel sites, to provide reliable, long-duration storage, and will help utilities and data centers get resources from the grid without straining it.
NRG Invests $360 Million in Texas Natural Gas Plant
NRG Energy announced it would invest $360 million to build a 456-megawatt natural gas facility at the existing TH Wharton Generating Station in Harris County, which was designated as a qualified project under the Texas Jobs, Energy, Technology, and Innovation (JETI) program.
Once the facility is online in 2026, it will provide additional permanent jobs, enhanced grid stability and regional economic growth,” state Executive Vice President and President of NRG Business and Wholesale Operations Robert Gaudette.
Governor Greg Abbott says, “Texas energy powers our state’s booming economy. This $360 million investment by NRG in Harris County is a significant advancement in Texas’ energy infrastructure. The new natural gas facility will expand power generation and provide reliable, affordable energy for homes and businesses in one of the largest electricity demand centers in Texas. By investing in reliable, dispatchable energy, we will add more power and better fortify our grid.”
Talen and Vistra Advance Natural Gas Plant Acquisitions
Talen Energy secured $1.2 billion in financing to support the acquisitions of two natural gas-fired combined cycle generation plants in the U.S.
In July Talen acquired Caithness Energy’s Moxie Freedom Energy Center (Freedom Energy Center) in Pennsylvania and BlackRock’s Guernsey Power Station in Ohio, for a net acquisition price of $3.5bn.
The term loan B financing includes both upfront and delayed draw commitments to provide flexibility in funding the two acquisitions.
Vistra recieved FERC approval for its acquisition of seven natural gas generation facilities from Lotus Infrastructure Partners, which totals 2,600 megawatts and comprises five combined-cycle gas-turbine plants and two combustion-turbine plants.
EPSA Members Give Back
Calpine donated $65,000 to the Clear Lake Environmental Research Center, a non-profit focused on protecting and restoring the Clear Lake watershed and surrounding ecosystems, to celebrate the 65th anniversary of The Geysers.
Aimee Blaine, Calpine’s Senior Vice President of the Geothermal Region states, “The success of The Geysers over the past 65 years is a testament to the people who have cared for it: hardworking, committed individuals who view stewardship as both a duty and a privilege. Together with our partners and community, we have built a deep connection to each other and this land. Our shared pride in this work has helped The Geysers remain a global leader in geothermal energy production and environmental responsibility.”
Furthermore, California State Senate President pro Tempore Mike McGuire praises the Geysers, “”Pumping out enough affordable clean energy to power more than 725,000 homes, The Geysers are truly a feat of engineering and dedication…65 years is an incredible milestone for geothermal energy here in Lake and Sonoma counties, and we all look forward to what’s ahead as the iconic Geysers continue to help shape California’s transition to clean energy for the next generation.”
Constellation Energy funded the creation and installation of a 2,200-square-foot rain garden at Montgomery School in Pennsylvania. The project benefits the local ecosystem and provides hands-on learning opportunities for students.
Constellation Energy announced it will provide grants to 34 environmental stewardship non-profits totaling nearly $1.1 million.
Through the second annual Constellation Leading Environmental Accelerators Network (CLEAN) Awards, the Constellation Foundation will directly fund efforts to enhance biodiversity, support climate adaptation, protect ecosystems and increase environmental education.
Bryan Hanson, executive vice president and chief generation officer at Constellation and Constellation Foundation board member says, “operating the nation’s largest fleet of emissions-free generation is about more than just powering homes and businesses. We have a unique responsibility, and an opportunity, to lead as stewards of the environment. The CLEAN Awards are our way of recognizing and empowering dedicated sustainability organizations who are rolling up their sleeves every day to help build stronger, more vibrant communities.”
Invenergy sponsored the Patsy’s House Children’s Advocacy Center fundraiser that provides resources, counseling, and support programs for children and families experiencing neglect.
Invenergy participated in the Scottish Rite for Children’s 26th Annual San Angelo Sporting Clay Shoot and donated $20,000 to support Scottish Rite’s work in children’s pediatric orthopedic care.
“Supporting Scottish Rite through their annual San Angelo Sporting Clay Shoot allows our staff to give back to the communities we call home, and further our mission to invest in West Texas,” said John Judd, Operations & Maintenance Manager, Invenergy. “For nearly a decade, Invenergy has been proud to support Scottish Rite for Children’s powerful mission, and it brings our teams a great amount of pride to know their participation in this event directly benefits research, care, and better health outcomes for the children of this region.”
Tenaska donated $5,000 to an Emergency Management Agency in Carroll County, Ohio, that will allow them to purchase new furniture and office equipment.
Vistra’s Beaver Valley Nuclear team joined the non-profit Tree Pittsburgh to restore the canopy in Highland Park, Pennsylvania.
