NRG Closes on Texas Energy Fund Loan for 456 MW Natural Gas Generation Project
'Demand for electricity across Texas is surging, and we're working quickly to supply new dispatchable natural gas generation to the grid,' said Robert J. Gaudette, Executive Vice President, President of NRG Business and Wholesale Operations. 'Our new units at TH Wharton will add lasting benefits to the surrounding community with the addition of jobs, enhanced grid stability and economic growth. We want to thank Governor Greg Abbott, the Texas Legislature and the PUCT for being great partners in helping power Texas forward.'
As the state faces significant demand growth from rapid industrial expansion, AI-powered data centers, and residential development, the TH Wharton project will deliver much-needed, reliable power that Texans can depend on for decades to come.
NRG is committed to serving the needs of Texans today and in the future. In addition to the TH Wharton project, NRG has two additional projects at its Cedar Bayou and Greens Bayou sites that are progressing through the TEF due diligence process. In total, NRG's TEF projects are estimated to bring over 1.5 GW of new natural gas generation to Texas by 2028, providing enough capacity to power over 1.5 million homes during the course of a year.
About NRG
NRG Energy, Inc. is leading the future of energy—now. Our solutions power a smarter, brighter future by helping customers achieve today's goals while solving for the challenges of tomorrow. Every day, we deliver innovative natural gas, electricity, and smart home solutions to customers large and small across North America. Visit nrg.com for more information, and connect with us on Facebook, Instagram, LinkedIn, and X.
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This communication contains forward-looking statements that may state NRG's or its management's intentions, beliefs, expectations or predictions for the future. Such forward-looking statements are subject to certain risks, uncertainties and assumptions, and typically can be identified by the use of words such as 'will,' 'expect,' 'estimate,' 'anticipate,' 'forecast,' 'plan,' 'believe' and similar terms. Although NRG believes that its expectations are reasonable, it can give no assurance that these expectations will prove to have been correct, and actual results may vary materially. Factors that could cause actual results to differ materially from those contemplated above include, among others, risks and uncertainties related to the capital markets generally.
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