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Proposed Generation From Affiliates Of Texas Retail Providers Among Projects Advancing Under In-ERCOT Loan Program
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The Texas PUC has advanced to a due diligence review over 4,100 MW of proposed new generation to be built in ERCOT by affiliates of Texas retail electric providers, as part of the PUC's Texas Energy Fund (TEF) In-ERCOT Loan Program
The 4,100 MW of REP-affiliated generation is part of an aggregate of nearly 9,800 MW in proposed new generation, from 17 applicants, which is advancing to the due diligence phase
The 17 projects advancing to due diligence were culled from 72 applications
Included among those proposals advancing to due diligence are the following proposals from entities affiliated with a Texas REP (proposed project size noted for each): NRG Energy, Inc. (456 MW); Vistra Corp. (440 MW); ENGIE Flexible Generation NA LLC (930 MW); Constellation Energy Generation, LLC (300 MW); Calpine Corporation (460 MW); NextEra and Aegle Power (1,292); and Mercuria Investments US, Inc; Reliability Design and Development, LLC (226 MW).
Also of note, a proposal from Competitive Power Ventures (CPV Group LP) and GE Vernova (1,350 MW) is advancing. CPV operates a retail supplier in various PJM markets where CPV owns a portfolio of generation, but CPV does not currently operate a REP in Texas. According to a project list on its website, CPV does not currently own a generation portfolio in Texas, though it has been developing Texas generation prior to the loan application. CPV has served as an asset manager for third-party owned generation in Texas
Under the due diligence stage, the TEF administrator will evaluate
whether each applicant can sufficiently support the material assertions made in each developer's loan application. The
TEF administrator anticipates that the due diligence period for each application will require
between four to eight months to complete.
The 17 projects listed below will advance to the due diligence phase of the process:
The 9,781 MW of projects advancing to due diligence are requesting in aggregate $5.38 billion in loans
The PUC authorized its Executive Director to enter into a loan agreement with applicants that satisfactorily complete the due diligence process
Project 56896
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August 29, 2024
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Copyright 2024 EnergyChoiceMatters.com
Reporting by Paul Ring • ring@energychoicematters.com
Developer MW
NRG Energy, Inc. 456
Vistra Corp. 440
ENGIE Flexible Generation NA LLC 930
Constellation Energy Generation, LLC 300
Calpine Corporation 460
NextEra and Aegle Power 1,292
Mercuria Investments US, Inc;
Reliability Design and
Development, LLC 226
Competitive Power Ventures
(CPV Group LP), GE Vernova 1,350
Howard Power Generation, LLC 271
Hunt Energy Network, L.L.C.;
John Hancock Life Insurance
Company (U.S.A.); Manualife
Infrastructure III AIV
Holdings B, L.P. 132
Rayburn County Electric
Cooperative, Inc.; Rayburn
Energy Station LLC 570
Frontier Group of Companies
(Lonestar Industrial Park LLC) 162
LS Power Equity Advisors, LLC 490
EmberClear Management;
Jupiter Island Capital 900
Hull Street Energy through wholly
owned subsidiary MPH Bastrop
Peakers, LLC 1,080
Kerrville Public Utility Board
Public Facility Corporation;
Kerrville Public Utility Board 122
WattBridge Energy IPP Holdings, LLC 600
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