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Affiliate Of Texas Retail Supplier Withdraws Generation Project From TEF Loan Program
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ENGIE Flexible Generation NA LLC has filed at the Texas PUC to withdraw its Perseus generation project from the PUC's Texas Energy Fund (TEF) In-ERCOT Loan Program
The PUC had previously advanced the Perseus project, a proposed approximately 900 MW peaker, to the due diligence phase of the TEF loan program
ENGIE reported that, "it has become evident that equipment procurement constraints, among other factors, will delay the project schedule such that we would be unable to make the statutorily mandated initial loan disbursements by December 2025, and therefore ENGIE officially withdraws the Perseus project (APP-00000223) from program consideration."
ENGIE stated that it made the withdrawal at this time in hopes that a project from another TEF loan applicant could be selected to replace Perseus and to make use of the loan funds
While ENGIE had also proposed another new generation project under the TEF In-ERCOT Loan Program, the 483 MW Spenser peaker (which did not advance to due diligence), ENGIE said that Spenser is at an even earlier stage in development, and thus Spenser would not be a good replacement for Perseus in the TEF program.
ENGIE also formally withdrew the Spenser application from the program
"ENGIE will continue to evaluate and pursue projects within ERCOT to provide reliable and resilient generation to meet consumer needs and looks forward to continuing to work with all stakeholders to meet the extraordinary growth of Texas," ENGIE said
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February 17, 2025
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Copyright 2025 EnergyChoiceMatters.com
Reporting by Paul Ring • ring@energychoicematters.com
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