Overview
- The Public Utility Commission of Texas approved a 20-year, up-to-$370 million loan at 3% interest covering about 60% of the Greens Bayou project’s sub-$617 million cost.
- NRG plans to add a 455-megawatt unit at its existing Greens Bayou Generating Station in Harris County, with service expected in 2028.
- This is the sixth finalized Texas Energy Fund loan for ERCOT, taking total backed capacity to more than 3.5 gigawatts.
- With the latest award, NRG’s TEF-backed Houston-area projects total roughly 1.5 gigawatts and more than $1.1 billion in support, with the company citing around 1,150 construction jobs.
- State officials say 11 additional TEF applications representing about 5.4 gigawatts remain under due diligence as Houston’s utility projects up to 50% higher electricity needs by 2031, while environmental groups warn of added pollution and emissions.