NRG Gas Power Plant Lands $562 million Texas Energy Fund Loan

How Will the NRG Gas Power Plant Impact Texas?





The new gas power plant will be built near Baytown. Find out much NRG Energy secured for funding and why it helps future electric bills.
While NRG Energy will build a new natural gas power plant near Baytown, solar and batteries handled a lot of load this summer. Learn how Texans benefit from all kinds of power right now.




NRG Energy recently secured a $562 million loan from the Texas Energy Fund (TEF). Because of this, the company is now moving forward to build a new gas power plant in Baytown, TX. This new plant, expected to generate 721 MW, will replace older gas units and provide more flexible power. And that’s great for the ERCOT grid! The TEF deal covers 70% of the project’s cost, with NRG contributing the rest. As a result, this gas power plant joins other TEF-backed projects to support reliable power and maintain cheap electricity for Texans.





Baytown and Other TEF Power Plant Projects





Work on the Baytown project is expected to begin soon. So, the power plant should come online within a few years. TEF already supports other gas projects in the state, including a combined 1,000 MW of planned capacity. These loans help utilities upgrade aging plants, add emissions controls, and ensure that gas fired plants remain a reliable part of the grid. But maintaining gas plants is costly, so keeping them online ensures more power on tap for homes and businesses. 





While these projects are significant, they are a smaller part of the overall energy landscape. There’s much more at play in the Texas power mix. 





Renewable and Battery Projects Are Growing





Meanwhile, renewable and battery projects are surging in Texas. This year, ERCOT expects dozens of solar and battery projects to come online, totaling several thousand megawatts. Solar alone has set new records, meeting up to 50% of ERCOT demand at times this summer. In the same season, battery storage set 10 separate records for the most energy charged or discharged at a given time. These clean energy additions provide flexible power and help keep electricity costs low. They’re green and good for Texas! 





Balancing the Grid 





The new NRG gas power plant will support the grid during peak demand. This is important when solar output drops at night or on cloudy days. At the same time, solar and battery projects help meet midday demand. This reduces pressure on gas plants. This combination of resources helps keep Texans’ lights on.





Investment in the NRG gas power plant shows that fossil fuels still play a key role in Texas energy. However, the rapid growth of solar and battery storage displays the state is diversifying its power supply. These changes mean more options for affordable power. 





Your home’s power can come from any and every source. Shop Texas energy plans at http://www.texaselectricityratings.com/electricity-rates to see which plan fits your home best.

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