The Public Utility Commission of Texas (PUCT) has received 72 applications for the Texas Energy Fund Loan Program as of July 29. The requests total approximately $24 billion to fund 38,379 megawatts of proposed dispatchable power generation projects in the Electric Reliability Council of Texas (ERCOT) region.

According to a July 29 press release issued by PUCT, Chairman Thomas Gleeson expressed satisfaction with the industry's response to Texans' demand for reliable electricity through significant investments in dispatchable power. "I’m pleased to see industry leaders respond to Texans’ request for reliable electricity by planning major investments in dispatchable power," said Gleeson.

Gleeson mentioned that each application will be thoroughly reviewed so the Texas Energy Fund could be put to good use.

The release stated that the review process will begin in a few weeks, with PUCT deciding on which projects will proceed at its August 29 open meeting.

According to the release, the In-ERCOT Generation Loan Program consists of low-interest loans to cover new construction or upgrades to existing dispatchable electric generating facilities. To qualify for a loan, a proposed project must add at least 100 megawatts of new generation to the ERCOT grid.

The In-ERCOT Generation Loan Program was made possible through the Powering Texas Forward Act.