FROM THE GOVERNOR

Abbott announces Texas Energy Fund Loan to 1,350 MW West Texas Natural Gas Power Plant AUSTIN – Governor Greg Abbott announced the fifth Texas Energy Fund (TxEF) loan agreement for a 1,350 megawatt (MW) natural gas power plant in Ward County. Competitive Power Ventures (CPV) Basin Ranch will build the plant, which is expected to begin generating power for the Electric Reliability Council of Texas (ERCOT) power region in 2029.

“The Texas Energy Fund secured the largest capacity project to date, with 1,350 MW of new, reliable power generation coming online that will further fortify our state grid and support our growing economy for decades,” said Governor Abbott. “As one of the largest sources of dispatchable power generation for the grid, this investment is just the latest example of why Texas is the energy capital of the world. We will take every step necessary to ensure affordability and electric reliability for Texas homes and businesses across our great state.”

“The Texas Energy Fund has now financed the addition of over 3,100 MW of new, reliable power for the State of Texas,” said Public Utility Commission of Texas (PUC) Chairman Thomas Gleeson. “There is important work still ahead, but this newest commitment to invest in Texas is a clear demonstration of the value and reliability benefits the TxEF is bringing to bear.”

“We thank Governor Greg Abbott, his administration, the Texas Legislature, the PUC, and Ward County for their continued support of the CPV Basin Ranch Energy Center that will provide critical baseload power to the citizens of Texas,” said Competitive Power Ventures CEO Sherman Knight. “Through incentives and available natural resources, Texas is paving the way for new investments and development across the state; CPV looks forward to playing a role in that future.”

At 1,350 MW, the facility has the largest capacity of any project financed by the TxEF to date. Once connected, the CPV project will become one of the largest sources of dispatchable generation capacity for the ERCOT grid.

The loan agreement between the PUC and CPV is the fifth under the Tx-EF’s In-ERCOT Generation Loan Program, which provides low-interest loans for projects that add new, dispatchable power to the ERCOT region. Under the loan agreement, total project costs are estimated to be $1.88 billion. The PUC is providing a 20-year TxEF loan of $1.12 billion, or 60% of the total project cost, at a 3% interest rate. The loan term runs from Oct. 28, 2025, through Oct. 28, 2045.

The natural gas generation facility will be built at CPV’s Basin Ranch Energy Center in Ward County. The project will interconnect in the ERCOT West Load Zone.

Under the loan agreement, the facility must meet minimum performance standards, as outlined in the In-ERCOT Generation Loan Program rules.

The TxEF is administered by the PUC through a competitive application process and rigorous financial review of proposed projects.

There are 12 TxEF In-ERCOT Generation Loan Program applications moving through a due diligence review process. Together, the projects represent 5,861 MW of proposed, new dispatchable generation for the ERCOT grid.

Additional information about the TxEF and the In-ERCOT Generation Loan Program is available on the PUC website.

Abbott invites Texas veterans to 2025 statewide hiring fair AUSTIN – Governor Greg Abbott invited Texas veterans, service members, and veteran spouses to participate in the 2025 Hiring Red, White & You! statewide hiring fair through Nov. 20.

“The talent of our brave veterans who answered the call to serve our nation is a large part of the Texas economic engine,” said Abbott. “The skills and mission-driven mindset of our veterans brings a competitive advantage to any business in our state. This November, I urge all Texas veterans and military families to attend a Hiring Red, White, & You! event.”

Hiring Red, White & You! is a statewide hiring event, hosted by the Texas Workforce Commission (TWC), that connects veterans, transitioning military members, and military spouses to employers across Texas. TWC and Texas Workforce Solutions will host more than 30 events across the state in partnership with the Texas Veterans Commission and the Texas Medical Center.

Since 2012, these free hiring events have connected more than 26,000 employers with 153,000 job seekers, including 52,500 veterans. Hiring Red, White & You! events have also resulted in more than 4,300 same-day hires.

Employers can participate in Hiring Red, White & You! at no cost and are encouraged to contact their local Workforce Solutions Office for more information. Employers who hire veterans may be eligible for the Work Opportunity Tax Credit, which allows up to $9,600 in federal business income or payroll tax benefits. Through the WeHireVets initiative, TWC recognizes businesses in which veterans make up at least 10% of the workforce.

“It’s important that we continue to serve those who served, and do so with priority, resources, and commitment,” said TWC Chairman Joe Esparza. “From navigating the transition to civilian life to connecting with meaningful careers, Hiring Red, White & You! events make a difference in the lives of veterans across Texas.”

“Thank you to our veterans who have served our country,” said TWC Commissioner Representing Labor Alberto Treviño III. “Texas is home to more than 1.7 million veterans and serving military members whose skills and experience are crucial contributors to the state’s economic success.”

“Texas recognizes the invaluable skills and experience that veterans bring, not only to the workforce but to every aspect of our community,” said TWC Commissioner Representing the Public Brent Connett. “TWC’s annual Hiring Red, White & You! job fairs continue to successfully connect Texas veterans, transitioning military personnel, and their spouses with rewarding careers, and the Texas economy is brighter and stronger because of veterans’ successes.”

Employers can find additional information on Hiring Red, White & You! events at twc.texas.gov/ hrwy. For information on all veteran workforce services available in Texas, visit twc.texas.gov/services/ veterans.