Another loan from the Texas Energy Fund will be used to construct a natural gas power plant in Ward County in west Texas. Gov. Greg Abbott announced last week the fifth loan in the program to fund a plant of 1,350 megawatts by Competitive Power Ventures Basin Ranch, which is expected to begin generating power for ERCOT in 2029. It’s the largest capacity project to date for the Texas Energy Fund.
Thomas Gleeson, chairman of the Public Utility Commission of Texas, said Oct. 30, “The Texas Energy Fund has now financed the addition of more than 3,100 megawatts of new, reliable power for the state of Texas.”
The natural gas generation facility will be built at CPV’s Basin Ranch Energy Center and will interconnect in the ERCOT west load zone. Total project cost is $1.88 billion, and PUC is providing a 20-year loan for 60 percent of the cost at 3 percent interest.
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