Governor Abbott Announces Texas Energy Fund Loan To 455 MW Natural Gas Power Plant In Houston

~ In a move to further strengthen Texas' energy infrastructure, Governor Greg Abbott has announced the approval of a loan agreement for a 455 megawatt natural gas power plant in the Houston area. The sixth loan agreement under the Texas Energy Fund (TxEF), this project is expected to begin generating power for the Electric Reliability Council of Texas (ERCOT) region in 2028.

Governor Abbott, who has been a strong advocate for energy production in Texas, stated that this investment by NRG Energy Inc. (NRG) will add more power to the state's energy infrastructure and support the fifth largest metropolitan area in America. He also emphasized that this new power plant will ensure affordable and reliable electricity for every home in Texas for years to come.

The Public Utility Commission of Texas (PUCT) Chairman Thomas Gleeson also expressed his satisfaction with the progress of the TxEF, stating that it has now secured over 3,500 MW of safe, reliable, and affordable power for the state. He credited Texans for recognizing the need to prepare their grid for the future when they voted to create the TxEF in 2023.

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NRG Executive Vice President and President of NRG Business and Wholesale Operations Robert J. Gaudette echoed similar sentiments, stating that reliable power is essential for Texas' continued growth. He also highlighted NRG's commitment to delivering dependable and dispatchable generation when needed most. The project at Greens Bayou Generating Station in Harris County will not only strengthen grid resilience but also create local jobs and support economic vitality.

The loan agreement between PUCT and NRG is part of TxEF's In-ERCOT Generation Loan Program, which provides low-interest loans for projects that add new dispatchable power to the ERCOT region. The total project cost is estimated to be less than $617 million, with PUCT providing a 20-year loan up to $370 million at a 3% interest rate. The project is expected to be completed by Nov. 20, 2025, and will run until Nov. 20, 2045.

The facility will be built at NRG's existing Greens Bayou Generating Station in Harris County and will interconnect in the ERCOT Houston Load Zone, which includes major cities like Houston, Pasadena, and The Woodlands. This area makes up the fifth largest metropolitan area in the United States.

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Under the loan agreement, the facility must meet minimum performance standards as outlined in program rules. The TxEF is administered by PUCT through a competitive application process and rigorous financial review of proposed projects.

Apart from this project, there are currently 11 applications to the TxEF In-ERCOT Generation Loan Program undergoing due diligence review. Together, they represent an additional 5,406 MW of proposed new dispatchable generation for the ERCOT grid.

More information about TxEF and the In-ERCOT Generation Loan Program can be found on PUCT's website. With these efforts to strengthen Texas' energy infrastructure, it is clear that the state remains committed to providing reliable and affordable power for its residents now and in the future.

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