Texas (U.S.) narrows gas plant projects vying for $5.4 B in funding
The Public Utility Commission (PUC) of Texas has selected 17 projects, seeking $5.38 B in government funding, to advance in a new program aimed at spurring the development of gas-fired power plants, U.S. regulators said on Thursday.
The Lone Star State, whose power grid has been plagued with bouts of prolonged blackouts, established the Texas Energy Fund last year to incentivize the build-out of natural gas electricity generation by offering low-interest loans. NRG Energy, Vistra, Constellation, NextEra and GE Vernova are among the applicants.
The selected projects, totaling nearly 10,000 megawatts (MW) in power generation capacity, will advance to the next stage of the fund's application review process, the Texas PUC said. Approved applicants are expected to receive initial loan payments by Dec. 31, 2025.
The PUC received 72 applications for the loan program, with requests adding up to about $24 B in funding for projects totaling more than 38,000 MW, the PUC said.
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