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PUCT Sees Strong Industry Response To Texas Energy Fund Loan Program;125 Notices Of Intent To Apply For In-ERCOT Generation Loan
The Public Utility Commission of Texas (PUCT) has received 125 notices of intent (NOI) to apply for a loan through the Texas Energy Fund’s In-ERCOT Generation Loan Program. In total, the notices request $38.9 billion in financing for 55,908 megawatts of proposed dispatchable power generation projects for the Electric Reliability Council of Texas (ERCOT) region.
The In-ERCOT Generation Loan Program will provide low-interest loans to finance new construction or upgrades to existing dispatchable electric generating facilities within the ERCOT power region. To be considered for a loan, eligible entities were required to submit a NOI to the PUCT by May 31, 2024, and now must submit a completed loan application through the TEF Portal between June 1 – July 27, 2024.
To be eligible for a loan, the project must add a minimum of 100 MW new generation to the ERCOT grid. The loan may finance up to 60 percent of the cost of the project.
Resources to support applicants are available on the TEF Online website, and additional information on the application process, project eligibility requirements, and evaluation criteria can be found in 16 TAC §25.510, which was adopted on March 21, 2024. Initial disbursements for approved loans will be issued by December 31, 2025.
Press Release (06/01/2024)
55826 (Opened 11/13/2024)
(Texas Energy Fund In-ERCOT Generation Loan Program)
