Developer Announces Financial Closing Of 480 MW Of Dispatchable Generation In ERCOT

WattBridge Energy, LLC announced financial closing for 480 MW of "firm dispatchable generation" in ERCOT.

The transaction includes the company's sixth installation in 32 months -- the 288-MW Remy Jade facility -- and a further 192 MW of incremental units at existing WattBridge sites.

"[T]his new generation advances the company's 2025 goal to boost energy security in Texas by 4,000 MW," WattBridge said

When completed, these facilities will increase the WattBridge portfolio in the load-heavy ERCOT Houston zone to 2,304 MW, with another 1,696 MW in advanced development.

Anticipated to be online in January of 2024, the Remy Jade facility will operate in Harris County using six LM6000 gas-turbine packages while the merchant units will incorporate four LM6000 gas-turbine packages.

Key parties in the Remy Jade project include:

• Facility Owner -- WattBridge Energy

• Financing -- MUFG Union Bank, N.A., CoBank ACB, ING Group, Landesbank Hessen-Thüringen Girozentrale (Helaba)

• Gas Transmission and Gas Supplier -- Kinder Morgan Tejas Pipeline, LLC