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**Calpine Secures $276M State Loan for Texas Natural Gas Power Plant**
Calpine Corporation will receive a $276 million low-interest loan from the Texas Energy Fund (TxEF) to build a new 460-megawatt natural gas power plant in Fairfield, Texas. The facility is expected to be operational before the summer of 2026 and will support the Electric Reliability Council of Texas (ERCOT) power region. The total estimated cost of the project is $464 million, with the TxEF loan—offered at a 3% interest rate—covering 60% of the total.
This marks the fourth finalized loan under TxEF’s In-ERCOT Generation Loan Program, which supports projects that introduce new, dispatchable power generation within the ERCOT territory.
The new facility is currently under construction next to Calpine’s existing Freestone Energy Center in Freestone County. Once complete, it will interconnect with the ERCOT North Load Zone, serving the Dallas-Fort Worth metroplex.
In addition to the approved loans, 13 more applications are currently undergoing due diligence as part of the TxEF’s ongoing commitment to strengthening Texas’ power infrastructure.
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