Governor Greg Abbott announced a loan to support the construction of a new 455-megawatt natural gas power plant in the Houston area. The project, aimed at strengthening the region’s power grid, is a partnership between the Public Utility Commission of Texas (PUCT) and NRG Energy Inc., according to the Governor’s office.
Governor Abbott said, “Texas leads the nation in energy production, providing nearly one-fourth of the country’s domestically produced energy,” in an official announcement. The Harris County project is expected to improve grid reliability in the ERCOT region beginning in 2028. With NRG Energy overseeing the project, the governor said the plant is intended to provide reliable and affordable power for Texas homes for decades.
The Texas Energy Fund (TxEF), which provides low-interest loans for energy projects, is supporting the plant’s construction. According to the PUCT website, this is the sixth finalized loan under the TxEF In-ERCOT Generation Loan Program. The loan covers up to 60% of the estimated $617 million project cost, totaling $370 million at a 3% interest rate over 20 years…