The Public Utility Commission of Texas (PUCT) has denied NextEra and Aegle Power ‘s application submitted to the Texas Energy Fund (TEF) Loan Program, part of the In-ERCOT generation project. This application was deniedThe application was denied after failing to comply with due diligence requirements. In addition, NextEra Energy clarified that it is not involved in this application.
Rejection of Texas Energy Funds
PUCT Executive Director Connie Corona indicated that“they are still far from selecting a company to receive TEF funds” because the process includes multiple stages of evaluation. Between stages, the level of requirements becomes more rigorous than the previous one, to ensure the financial viability of energy projects. financial viability of energy projects and long-term performance.
At the same time, the PUCT announced a 10% reduction in the payment to Deloitte, the TEF contractor, which was in charge of the initial review. The Commission also mentioned that 16 additional applications are still under review under the In-ERCOT program, a process that can take up to eight months.
The TEF Loan Program aims to support projects totaling at least 100 MW of new power generation in the ERCOT system, and the first loans are expected to be granted before December 2025.
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Source: PUCT
Photo: Shutterstock
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