$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 in Sherman, Texas. Rayburn Electric Cooperative will construct the facility, expected to start operations in 2028. This project aims to enhance the reliability of the Electric Reliability Council of Texas (ERCOT) grid. The loan covers 60% of the estimated $685 million project cost, with a 20-year term at a 3% interest rate. The initiative is part of Texas's commitment to secure dependable energy sources for its growing population and economy.
AI summary · Source: Texas Border Business →
