Latest news with #LoanProgram
Business Wire
4 days ago
- Business
- Business Wire
NRG Closes on Texas Energy Fund Loan for 456 MW Natural Gas Generation Project
HOUSTON--(BUSINESS WIRE)--NRG Energy, Inc. (NYSE:NRG) executed a loan agreement with the Public Utility Commission of Texas (PUCT) and received initial funding for two new natural gas units at the company's existing TH Wharton power plant as a part of the Texas Energy Fund (TEF) Loan Program. The combined 456 MW nameplate capacity units are expected to start bringing reliable power to the constrained Houston load zone in Summer 2026. '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 for more information, and connect with us on Facebook, Instagram, LinkedIn, and X. Safe Harbor 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.
Business Journals
27-05-2025
- Business
- Business Journals
STL Partnership Receives SBA CDC Award for Commitment to 504 Loan Program
St. Louis Economic Development Partnership's (STL Partnership) Business Finance division has won a Certified Development Companies (CDC) award from the Small Business Administration (SBA) for outstanding commitment to the 504 loan program. The SBA recognizes excellence in numerous areas, such as lending and supporting underserved communities. CDCs are certified and regulated by the SBA, and work with the SBA and participating lenders, which are often banks or credit unions, to provide financing to small businesses. The goal is to help small businesses grow and make an impact on a community's economic development. STL Partnership partners with the SBA and a bank or credit union to provide businesses with better financing options for their real estate or non-mobile equipment purchases. STL Partnership is authorized to make SBA 504 loans throughout the entire State of Missouri, as well as the Illinois counties located in the St. Louis metropolitan area. The Business Finance division at STL Partnership also offers specialty loans, industrial bonds and loans through the St. Louis EDA loan program for small businesses throughout St. Louis. To encourage economic activity and job creation in the region, STL Partnership provides specialty loans to existing businesses or qualified startups in the City of St. Louis and St. Louis County. Utilizing funds from federal agencies such as the Economic Development Administration (EDA), along with funds from local sources, the Partnership provides low-interest, subordinated loans and can be an essential part of the capital stack to make your business expansion a reality. Loan funds may be used for working capital needs and the purchase of inventory, equipment, machinery, real estate, and other fixed assets. Industrial Revenue Bonds are a low-cost, long-term program for manufacturers, 501(c)3 organizations, multi-family housing developments, and special taxing districts to purchase fixed assets such as land, real estate, and/or new equipment. Through the St. Louis County Industrial Development Authority, an organization can issue tax-exempt bonds for projects over $2,000,000 for up to a 30-year amortization. The St. Louis EDA Loan Program is an option for for-profit businesses located in St. Louis City and St. Louis County that have been turned down for traditional funding or are working with a bank or credit union for funding. Loan funds may be used for working capital needs and the purchase of inventory, equipment, machinery, real estate, and other fixed assets. The amounts can range from $30,000 to $150,000. To learn more about STL Partnership's financing options, visit or email Darrell Scott, vice president of Business Finance, at dscott@
Business Journals
27-05-2025
- Business
- Business Journals
St. Louis Economic Development Partnership BizSpotlight
St. Louis Economic Development Partnership's (STL Partnership) Business Finance division has won a Certified Development Companies (CDC) award from the Small Business Administration (SBA) for outstanding commitment to the 504 loan program. The SBA recognizes excellence in numerous areas, such as lending and supporting underserved communities. CDCs are certified and regulated by the SBA, and work with the SBA and participating lenders, which are often banks or credit unions, to provide financing to small businesses. The goal is to help small businesses grow and make an impact on a community's economic development. STL Partnership partners with the SBA and a bank or credit union to provide businesses with better financing options for their real estate or non-mobile equipment purchases. STL Partnership is authorized to make SBA 504 loans throughout the entire State of Missouri, as well as the Illinois counties located in the St. Louis metropolitan area. The Business Finance division at STL Partnership also offers specialty loans, industrial bonds and loans through the St. Louis EDA loan program for small businesses throughout St. Louis. To encourage economic activity and job creation in the region, STL Partnership provides specialty loans to existing businesses or qualified startups in the City of St. Louis and St. Louis County. Utilizing funds from federal agencies such as the Economic Development Administration (EDA), along with funds from local sources, the Partnership provides low-interest, subordinated loans and can be an essential part of the capital stack to make your business expansion a reality. Loan funds may be used for working capital needs and the purchase of inventory, equipment, machinery, real estate, and other fixed assets. Industrial Revenue Bonds are a low-cost, long-term program for manufacturers, 501(c)3 organizations, multi-family housing developments, and special taxing districts to purchase fixed assets such as land, real estate, and/or new equipment. Through the St. Louis County Industrial Development Authority, an organization can issue tax-exempt bonds for projects over $2,000,000 for up to a 30-year amortization. The St. Louis EDA Loan Program is an option for for-profit businesses located in St. Louis City and St. Louis County that have been turned down for traditional funding or are working with a bank or credit union for funding. Loan funds may be used for working capital needs and the purchase of inventory, equipment, machinery, real estate, and other fixed assets. The amounts can range from $30,000 to $150,000. To learn more about STL Partnership's financing options, visit or email Darrell Scott, vice president of Business Finance, at dscott@
