The Texas Public Utility Commission has approved $5.38 billion in loans for nearly 10 gigawatts of new natural gas-fired power plants to meet the state's growing electricity demand.
The Public Utility Commission of Texas will review the extension of $5.38 billion worth of low-interest loans to companies planning nearly 10 gigawatts GW of new natural gas -fired capacity in a bid to boost generation capacity for ERCOT. The Texas regulator said that it had selected a total of 17 projects of proposed new dispatchable power generation and a total requested loan amount of $5.38 billion under the so-called In-ERCOT Generation Loan program of the Texas Energy Fund .
The Texas Energy Fund provides funding opportunities for electric generation projects through four programs based on an application process and award system developed by the Public Utility Commission of Texas PUCT. In the latest application process for the In-ERCOT Generation Loan program, PUCT received during the application period in July a total of 72 applications seeking more than $24 billion in funding for projects representing over 38,000 megawatts of proposed new dispatchable generation.
PUCT Natural Gas Power Plants ERCOT Grid Electricity Demand Loan Program New Generation Texas Legislature Senate Bill 2627
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