Public Utility Commission of Texas receives 72 applications for Texas Energy Fund Loan

AUSTIN, Texas (KAMR/KCIT) — The Public Utility Commission of Texas has received 72 applications for loans through the Texas Energy Fund’s In-ERCOT Generation Loan Program.

According to officials from PUCT, the applications request $24.41 billion to finance 38,279 megawatts of proposed dispatchable power generation projects in the Electric Reliability Council of Texas region.

“Texans have made it clear that they expect reliable electricity today and well into the future, and I am pleased to see industry leaders responding to that call and planning for major investments in dispatchable power for the state,” PUCT Chairman Thomas Gleeson said. “These loan applications will be thoroughly reviewed to ensure we use the Texas Energy Fund in the most responsible and efficient way and deliver the on-demand power we need to fuel the state’s continued growth.”

Officials noted that PUCT staff will evaluate the applications in the coming weeks and the commission will determine which projects will proceed to due diligence at the PUCT’s Aug. 29 open meeting.

PUCT officials also noted 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. According to officials, a proposed project must add a minimum of 100 MW new generation to the ERCOT grid to be eligible for a loan and the loan may finance up to 60% of the cost of the project.

Additional information on the project eligibility requirements and evaluation criteria can be found on the TEF Online website and in PUCT rule 16 TAC §25.510, which was adopted on March 21, 2024. Initial disbursements for approved loans will be issued by December 31, 2025.

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