POWER Magazine•3 months ago
Texas Issues First Performance-Based Grant Under Energy Fund for LCRA’s New 188-MW RICE Peaker
- •The Public Utility Commission of Texas (PUCT) awarded the Lower Colorado River Authority (LCRA) up to $22.56 million for its new 188-MW Timmerman Power Plant Unit 1, a natural gas-fired RICE peaker.
- •This marks the first agreement under the Texas Energy Fund (TxEF) Completion Bonus Grant (CBG) Program, establishing a new performance-contingent funding mechanism in Texas.
- •The program aims to accelerate the development of new, dispatchable generation capacity, creating new financial incentives for power developers and impacting future grid reliability for large power consumers in ERCOT.
simple-cycle