Texas Border Business
AUSTIN – Governor Greg Abbott announced the ninth Texas Energy Fund (TxEF) loan for more than 450 megawatts (MW) of new, reliable power in Reeves County, enough electricity to power approximately 110,000 Texas homes. Pecos Power Plant LLC is developing the project, which will add new natural gas generation to the West Texas power grid.
“Texas is the energy capital of the world because we build the power our economy needs,” said Governor Abbott. “This Texas Energy Fund loan adds more than 450 megawatts of new, reliable natural gas generation in West Texas and fortifies the grid for Texas homes and businesses.”
The project is set to begin generating power for the Electric Reliability Council of Texas (ERCOT) power region in 2027.
“This project brings significant investment and more dispatchable power to West Texas, while benefitting all Texans by strengthening grid reliability,” said PUCT Chairman Thomas Gleeson. “With quick start capabilities to meet fluctuating demand and a design suited for West Texas winters, this facility will add a dependable source of power for Texas families and businesses.”
The loan agreement between the PUCT and Pecos Power Plant LLC, with co-sponsors Mercuria and Continental Resources, is the ninth finalized under the TxEF’s In-ERCOT Generation Loan Program, which provides low-interest loans for projects that add new, reliable power to the ERCOT region.
The eight projects already approved through the TxEF In-ERCOT Generation Loan Program represent 4,994 MW of new, reliable power for the grid.
Additional information about the TxEF and the In-ERCOT Generation Loan Program is available on the PUCT website.
