NRG Energy Secures Loan for New Texas Natural Gas Power Plant
The 2 units will have a combined capacity of 456 MW and are expected to begin operations by the summer of 2026 in the constrained Houston load zone. Total project costs are estimated to be less than $360 million, with the 20-year TEF loan providing up to $216 million at a 3% interest rate. The loan term runs from July 31 this year through July 30, 2045. This project is the second loan agreement finalized under the TEF's In-ERCOT Generation Loan Program.
Close up image of an engineer inspecting the control panel of a modern power plant.
The company is pursuing additional projects under the TEF program at its Cedar Bayou and Greens Bayou sites. These 2 projects are currently in the due diligence process. If all 3 projects are approved and completed, NRG's TEF projects would bring over 1.5 GW of new natural gas generation to Texas by 2028, which is enough capacity to power more than 1.5 million homes annually.
NRG Energy Inc. (NYSE:NRG) is an energy and home services company in the US and Canada.
While we acknowledge the potential of NRG as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the .
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Disclosure: None. This article is originally published at Insider Monkey.
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