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NRG Energy Seeks $900 Million in State Loans for New Natural Gas Power Plants Amid Grid Stress

The interim CEO of Texas-based NRG Energy Inc. plans to apply for up to $900 million in loans from the state to finance construction of new natural gas-fired power plants. The loans, which would come from a $5 billion voter-approved Texas Energy Fund, would have a 3% interest rate. The funding will cover about 60% of the financing needed for Houston-headquartered NRG to build two gas-driven plants in 2026 and another in 2028. The money will be used to support the power grid that has been stressed by extreme weather events.

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