Brief: Texas Energy Fund loan agreement to fund 456 MW natural gas power plant in Houston, Texas Governor says
05/08/2025 20:12
Aug 5 (Reuters) - Office of the Texas Governor: SAYS THE SECOND TEXAS ENERGY FUND (TEF) LOAN AGREEMENT WILL FUND A 456 MEGAWATT (MW) NATURAL GAS POWER PLANT IN HOUSTON SAYS THE PLANT, BEING BUILT BY NRG ENERGY INC. NRG.N, IS CURRENTLY SLATED TO BEGIN OPERATIONS BY SUMMER 2026 AND WILL SERVE THE ELECTRIC RELIABILITY COUNCIL OF TEXAS (ERCOT) POWER REGION SAYS UNDER THE LOAN AGREEMENT, TOTAL PROJECT COSTS ARE ESTIMATED TO BE LESS THAN $360 MILLION SAYS PUBLIC UTILITY COMMISSION OF TEXAS PUC IS PROVIDING A 20-YEAR TEF LOAN UP TO $216 MILLION, OR 60% OF TOTAL COST, AT A 3% INTEREST RATE AND LOAN TERM RUNS FROM JULY 31, 2025, THROUGH JULY 30, 2045 ((Reuters.Briefs@thomsonreuters.com))