The Public Utility Commission of Texas (PUC) has named the 17 projects that will proceed in the application review process for the Texas Energy Fund (TEF) In-ERCOT Generation Loan program.
These projects being reviewed account for a total of 9,781 megawatts (MW) of proposed new dispatchable power generation and a total requested loan amount of $5.38 billion.
The funds were made available through the Texas Energy Fund loan program, which Texas voters approved in 2023.
PUC Chairman Thomas Gleeson said in the release that the selections mark "an enormous step forward in our ongoing work to meet the fast-growing demand for electricity in our state."
Gleeson added, "Each application was closely analyzed, and the projects selected to advance will have the greatest impact in meeting the needs of the ERCOT grid and ensure long-term electric reliability in Texas."
However, on Wednesday, Co-Chairs of the Texas Energy Fund Advisory Committee issued a joint statement:
"The Senate and House have sent clear messages to the Public Utility Commission reemphasizing the importance of a deliberate, transparent, and prudent review process for Texas Energy Fund. Adherence to those objectives is critical.
On Tuesday, we learned that the Public Utility Commission and its contracted program manager, Deloitte LLP, advanced a problematic and unqualified application submitted by an energy executive who was publicly convicted of fraud in our state. The protection and stewardship of taxpayer money must be the highest priority. We intend to address these concerns at our hearing, which will be held on October 8, 2024."
We reached out to both offices and were told there was nothing more to report at this time.
According to PUC, criteria included the applicant’s experience and strength of financing as well as the proposed project’s technical and financial attributes.
Commissioners also identified five priorities for developing a portfolio of projects: diversity among applicant types, diversity in siting location, speed to market, ability to relieve transmission constraints, and diversity of generation resource type.
