Texas Utility Commission Selects Projects for Gas-Fired Power Plants

NEW YORK (Reuters) – The Public Utility Commission of Texas has selected 17 projects for further development, seeking $5.38 billion in government funding aimed at enhancing gas-fired power plants.

The state, facing ongoing blackouts, created the Texas Energy Fund last year to incentivize natural gas electricity generation through low-interest loans. Notable applicants include NRG Energy, Vistra, Constellation, NextEra, and GE Vernova.

The chosen projects, with a combined capacity of nearly 10,000 megawatts, will proceed to the next stage of the fund’s application review process. Approved projects are expected to receive initial loan payments by December 31, 2025.

A total of 72 applications for the loan program were submitted, with requests for around $24 billion in funding for projects exceeding 38,000 megawatts in capacity, according to the PUC.