Texas throttles gas plant projects as it competes for $5.4 billion in funding Reuters

NEW YORK (Reuters) – Texas’ Public Utility Commission has selected 17 projects, seeking $5.38 billion in government funding, to move forward in a new program aimed at spurring the development of gas-fired power plants, officials said on Thursday. regulation.

The Lone Star State, whose power grid has been plagued by prolonged outages, established the Texas Energy Fund last year to spur electricity development by offering low-interest loans. NRG Energy (NYSE: ), Vistra, Constellation, NextEra and GE Vernova are among the applicants.

The selected projects, totaling nearly 10,000 megawatts of power generation capacity, will move on to the next stage of the fund application review process, the Texas PUC said. Approved applicants are expected to receive their initial loan payments by December 31, 2025.

The PUC received 72 applications for the loan program, with applications totaling up to about $24 billion in financing for more than 38,000 megawatt projects, the PUC said.