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NRG Energy is poised to complete 415 MW of new simple-cycle gas capacity at its TH Wharton power plant in Houston later this month, company executives told investors on a first-quarter earnings call Wednesday that included a broad discussion of its recent operational performance and the outlook for power providers looking to capitalize on the data center boom.
The two-unit TH Wharton addition is the first of three projects NRG is developing with backing from the Texas Energy Fund, a state-backed initiative that provides below-market financing for firm generation to serve surging load growth in the Electric Reliability Council of Texas territory. The fund executed a $216 million loan for the TH Wharton project with a nameplate capacity of 456 MW last year.
The fund is also supporting the construction of a 721-MW unit at NRG’s Cedar Bayou power plant and a 455-MW capacity addition at its Greens Bayou power plant. Both projects are “on track” for completion, NRG representatives said.
NRG President and CEO Robert Gaudette — who took over from outgoing CEO Larry Coben last week — said the company’s Texas fund-backed projects were insulated from recent demand-driven price spikes for new gas-generation projects.
