Texas Receives $24.41 Billion in Loan Applications for New Power Projects ⚡

The Public Utility Commission of Texas (PUCT) has received 72 applications totaling $24.41 billion for the Texas Energy Fund’s In-ERCOT Generation Loan Program. These applications propose 38,279 megawatts of new dispatchable power generation in the ERCOT region. PUCT Chairman Thomas Gleeson highlighted the industry's commitment to reliable electricity for Texas's future. The commission will review the applications, with decisions on due diligence set for August 29, 2024. The program offers low-interest loans for projects adding at least 100 MW to the ERCOT grid, covering up to 60% of project costs. Initial loan disbursements are expected by December 31, 2025.
Total Proposed Capacity: 38,279 megawatts
Region: Electric Reliability Council of Texas (ERCOT)
Key Date for Review: August 29, 2024
Loan Details:
Eligibility: Projects must add at least 100 MW to the ERCOT grid
Financing: Loans can cover up to 60% of project costs
Initial Disbursements: Expected by December 31, 2025