Calpine Corporation announced Oct. 14, 2025, the close of a Texas Energy Fund loan agreement to support development of a 460-megawatt peaking facility adjacent to the company’s Freestone Energy Center, in Freestone County, Texas. The facility is currently under construction and is expected to be operational next year.
“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.”
“We’re grateful for the leadership of Governor Abbott and the Texas Legislature and for their dedication to keeping energy reliable and affordable for all Texans,” Stephenson added. “Calpine is excited to keep investing in Texas and to bring more power generation online in the years ahead to support our growing communities.”
The Pin Oak Creek project will help the state of Texas to support the continued economic growth that has dramatically increased the power demands on the state’s grid. The facility is designed to ramp up quickly and provide additional power during periods of peak energy usage.
