The Public Utility Commission announced they have received 125 notices of intent to apply for a loan through the Texas Energy Fund’s In-ERCOT Generation Loan Program. These notices total a $38.9b in financing for over 55k MWs of proposed dispatchable power generation projects. The In-ERCOT Generation Loan Program will 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 for this program, entities had to submit a notice of intent letter – which was due May 31. The next step for these entities is to submit a completed loan application through the TEF Portal. Applications are due by July 27, 2024.
Resources to support applicants are available on the TEF website, and additional information on the application process, project eligibility requirements, and evaluation criteria can be found here. Initial disbursements for approved loans will be issued by December 31, 2025.