Permian Basin in Running for 4 Power Plants

If you live in West Texas, you know it takes power to make power. The State of Texas is considering awarding four electric facilities to the Midland/Odessa area.

A fund was created by the Texas Legislature through the Powering Texas Forward Act to provide grants and loans to finance construction, maintenance, modernization and operation of electric facilities in the state. The Public Utility Commission, which administers the TEF, recently winnowed through 72 program applications totaling $24 billion, selecting 17 as possible recipients of $5.38 billion in low-interest loans.

Four of those projects are in the Permian Basin, including a 1,350-megawatt combined cycle project in Reeves County proposed by Competitive Power Ventures (CPV Group LP) and GE Vernova. Vistra Corp.’s 440-megawatt proposal was also selected. The Permian Power I will be built adjacent to Vistra’s 325-megawatt Monahans gas-fired plant.

The power is needed by oil and gas companies who need the electricity as they convert their drilling rigs, frac spreads and other equipment from generation to electric power and non-oil and gas customers.