Utility Dive•3 months ago
Texas loan fund tops 3.5 GW of gas capacity secured with latest NRG deal
- •The Texas Energy Fund has committed low-interest loans totaling $1.15 billion to NRG for 1.5 GW of new gas capacity across three projects, including Greens Bayou, contributing to over 3.5 GW secured by the fund overall.
- •This state-backed financing significantly lowers the cost of capital for new dispatchable gas generation in ERCOT, making these projects more financially viable for developers.
- •The initiative directly addresses grid reliability and resource adequacy concerns in Texas, aiming to increase the supply of firm, on-demand power for large industrial consumers and data centers.
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