Texas PUC Reports 56 GW Of New Generation File NOI Under ERCOT Generation Loan Program

The Public Utility Commission of Texas (PUCT) said that it has received 125 notices of intent (NOI) to apply for a loan through the Texas Energy Fund’s In-ERCOT Generation Loan Program.

In total, the notices request $38.9 billion in financing for 55,908 megawatts of proposed dispatchable power generation projects for the Electric Reliability Council of Texas (ERCOT) region.

The In-ERCOT Generation Loan Program is to provide low-interest loans to finance new construction or upgrades to existing dispatchable electric generating facilities within the ERCOT power region. To be considered for a loan, eligible entities were required to submit a NOI to the PUCT by May 31, 2024 and now must submit a completed loan application through the TEF Portal between June 1 - July 27, 2024.

To be eligible for a loan, the project must add a minimum of 100 MW new generation to the ERCOT grid. The loan may finance up to 60 percent of the cost of the project.