Texas Gov. Greg Abbott announced a new Texas Energy Fund loan to support the construction of an 860-megawatt natural gas power project in West Texas. The project, built by Vistra in Ward County, will add two new natural gas-fired generating units at the company’s Permian Basin Power Plant.
Project Details
The expansion will more than triple the facility’s current generating capacity, supplying electricity to approximately 215,000 homes. The new generating units are expected to begin supplying electricity to the Electric Reliability Council of Texas (ERCOT) grid in 2028.
According to state officials, the loan agreement marks the eighth project approved under the Texas Energy Fund’s In-ERCOT Generation Loan Program, which provides low-interest financing for projects that add dispatchable, reliable power generation within the ERCOT region.
Response from Officials
Public Utility Commission of Texas Chairman Thomas Gleeson said the project will help meet the state’s growing electricity demands. Vistra President and CEO Jim Burke added that the project will build on existing infrastructure at the site, allowing the company to efficiently expand generating capacity while supporting the state’s increasing energy needs.
Original reporting: The Dallas Express — read the source article.
