$411M Texas Energy Fund Loan North Texas Natural Gas Power Plant Announced
· Texas Border Business
Governor Greg Abbott has announced a $411 million loan agreement from the Texas Energy Fund for a new 570 megawatt natural gas power plant to be constructed by Rayburn Electric Cooperative in Sherman, Texas. The facility is expected to start operations in 2028, contributing to the Electric Reliability Council of Texas (ERCOT) grid. This project is part of the state's initiative to enhance power generation and reliability. The total estimated cost of the project is under $685 million, with the loan covering 60% at a 3% interest rate over 20 years. The Texas Energy Fund aims to secure dependable energy for Texas families and businesses.
AI summary · Source: Texas Border Business →
