Texas has finalized its ninth Texas Energy Fund loan, backing a planned 452-megawatt natural gas plant in Reeves County, Gov. Greg Abbott announced Wednesday.
Developers expect the Pecos Power Plant to supply the Electric Reliability Council of Texas grid in 2027. State officials estimate it could generate enough electricity for about 110,000 Texas homes.
The eight previously approved projects in the fund’s In-ERCOT Generation Loan Program represent 4,994 megawatts of planned capacity, according to the Public Utility Commission of Texas. With Pecos, the nine projects total 5,446 megawatts.
The expansion comes as electricity demand on the ERCOT grid reaches new highs. ERCOT lists an unofficial peak of 91,089 megawatts on July 22, 2026, above the previous annual record of 85,508 megawatts set in 2023. The latest figure may change slightly when settlement data is final.
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