The Public Utility Commission of Texas has approved its staff-recommended portfolio of 17 power projects for due diligence under the Texas Energy Fund (TEF).
The newly formed TEF created by the Texas legislature provides grants and loans to finance the construction, maintenance, modernization and operation of electric utilities in Texas.
The 17 projects, located largely from Northeast to South Texas, account for 9,781MW of potential new power generation and would result in $5.38 billion in loaned TEF funds — if all recommended applicants were to execute a loan agreement at the requested loan amounts. The Commission chose the projects from a pool of 72 project applications.
Two Commission priorities in the project evaluation process included speed to market and ability to relieve known transmission constraints. Projects range in size from 122MW to 1,350MW.
“We commend the Texas legislature and the Public Utility Commission for their efforts to enhance grid reliability and expand dispatchable generation in our rapidly growing state,” said Hector Rivero, president and CEO of the Texas Chemistry Council. “We applaud PUC’s recommendation of a portfolio of 17 projects for due diligence under the TEF’s In-ERCOT Generation Loan program.”
