Powering Texans’ Member Companies Selected to Advance Projects to Strengthen Power Generation Capacity

Texas Public Utility Commission (PUC) approved Texas Energy Fund (TEF) applications to move forward to the due diligence phase of the program for member companies to bring more than 1,600 MW of generation online

Austin, Texas — On Thursday, the Public Utility Commission (PUC) announced its selections for the projects that will move forward to the next phase in Texas Energy Fund’s In-ERCOT loan program process. Projects from all four of Powering Texans’ member companies – Calpine, Constellation, NRG and Vistra – were selected as part of the program, representing more than 1,600 MW of new dispatchable gas-fueled generation to the Texas market.

After the PUC’s announcement, Powering Texans CEO Walt Baum issued the following statement:

“The announcement today from the PUC is an important milestone and a clear indicator that the PUC and lawmakers are committed to strengthening the grid. Powering Texans is proud to have projects from all four of our member companies selected to advance to the next phase of the program. Overall, these projects are estimated to bring an additional 1,656 MW of new dispatchable gas-fueled power plants online.

“Texas policymakers have successfully achieved their objective of incentivizing proposals to build up to 10,000 MW of dispatchable generation. We look forward to continuing to work with the PUC and lawmakers as we endeavor to bring more dispatchable generation facilities to power our ever-growing Texas communities, including continuing to advance the reforms that ERCOT and the PUC are currently implementing, which will be important in sending continued market signals for investment.”

Projects proposed by Powering Texans’ member companies that were selected by the PUC for the due diligence phase include:

Calpine was selected for a loan to construct a 460-megawatt peaking facility at its Freestone Energy Center;
Constellation was selected for a loan to build an estimated 300-megawatt facility online at its Wolf Hollow II Generating Station; and
NRG was selected for a loan to constructa 456-megawatt gas peaking generation facility at its TH Wharton plant;
Vistra was selected for a loan to bring an additional 440 megawatts online at its Permian Basin plant.

To read more about the PUC’s selection and the Texas Energy Fund, click here.

ABOUT POWERING TEXANS

Powering Texans advocates for free market policies and principles within the Texas energy landscape, and promotes the general welfare of all Texans. By keeping the energy market free from excessive government control, we seek to promote investment, encourage competition, and deliver a stronger grid for Texans, their businesses, and their families.

To learn more, visit https://poweringtexans.com/