Texas governor Greg Abbott announced Thursday that the very first Texas Energy Fund (TEF) loan agreement will be used to finance a natural gas power plant with a capacity of 122 megawatts (MW) in the state.
“According to the loan agreement, subject to the usual closing financial procedures, the total cost of the project must not exceed $ 175 million, the Public Services Commission (PUC) granting a 20 -year tef loan of up to $ 105 million at an interest rate of 3 %,” said a statement published on the official site of Governor Abbott.
The Governor’s office added that the Kerrville Public Services Board of Directors is the project manager and will ensure the development of the installation, the commissioning of which is scheduled by 2027.
The power station will be connected to the South Load Zone, adjacent to the Houston Load Zone, one of the largest state electricity demand centers.
