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Learn about Lower Colorado River Authority Investor Relations, including Featured News and About Us.
New facility planned in Central Texas will ramp up in minutes when extra power is needed
AUSTIN, Texas – The Lower Colorado River Authority on Tuesday announced it will build a new peaker power plant in Central Texas to provide an additional 190 megawatts of dispatchable power to the Texas power grid.
The plant is expected to be operational in 2025. A peaker plant is one that typically is used for brief periods during times when the demand for power approaches or surpasses the amount of power available.
As dispatchable power, the plant will be available to grid operators to call upon when renewable and other thermal generation are not sufficient to meet the state’s demand for electricity. The new LCRA plant will be able to ramp up and shut down in minutes.
“With this new plant, LCRA continues its commitment to provide reliable, cost-effective power to its customers and the Texas power grid,” said Timothy Timmerman, chair of the LCRA Board of Directors. “The new plant will provide power during peak use times to support the Texas electric grid and provide homes, businesses and industries with power.”
As a statewide leader in public power generation, LCRA applauds the Public Utility Commission of Texas and the Texas Legislature in their efforts to increase the supply of electricity available to Texans and to promote the wholesale market signals necessary to make an investment like this possible. Regulatory certainty is important for LCRA and others to commit to invest in new dispatchable power generation.
“Texas needs more dispatchable thermal power generation that can be available quickly, depending on market conditions and demand,” said Phil Wilson, LCRA general manager. “As our state faces the challenge of bringing more power to a growing population, I am proud that LCRA is continuing its legacy of providing vital services to Texans.”
The new plant will include 10 high-efficiency Wärtsilä reciprocating engines. Each engine can provide about 19 megawatts of power. (One megawatt can power about 200 homes during periods of peak demand, according to ERCOT.)
“The demand for power in Texas is increasing as more people and businesses call Texas home, and we’re pleased to be able to help support the Texas power grid and help meet the growing demand for electricity with this new plant,” Wilson said.
The new plant will be LCRA’s second peaker plant. The first is a 184-megawatt natural-gas fired facility in Fayette County that was built in 2010.
About LCRA
The Lower Colorado River Authority serves customers and communities throughout Texas by managing the lower Colorado River; generating and transmitting electric power; providing a clean, reliable water supply; and offering outdoor adventures at more than 40 parks along the Colorado River from the Texas Hill Country to the
Gulf Coast. LCRA and its employees are committed to fulfilling our mission to enhance the quality of life of the Texans we serve through water stewardship, energy and community service. LCRA was created by the Texas Legislature in 1934 and receives no state appropriations. For more information, visit lcra.org.
Fitch Ratings - Austin - 27 May 2022: Fitch Ratings has affirmed the 'AA-' Issuer Default Rating (IDR) and rating on the following bonds of the Lower Colorado River Authority, TX (LCRA):
--$1.2 billion revenue and refunding revenue bonds, series 2013, 2015A, 2015B, 2015D, 2020, 2022;
--Bank bond rating on CP series B.
The Rating Outlook has been revised to Stable from Negative.
AUSTIN, Texas – The Lower Colorado River Authority recently awarded more than $730,000 in Community Development Partnership Program grants for a wide range of projects across LCRA’s wholesale electric, water and transmission service areas.
The grants will help fund 32 community projects, including the purchase of a new firetruck for the Wall Volunteer Fire Department in Tom Green County and renovation of the Wharton Civic Center in Wharton County. Other grants will help fund a new public park alongside the Colorado River in Smithville; the construction of a live-fire training facility in Coleman; and the completion of renovations to public art galleries in downtown Llano.
Fourteen of the projects will support first responders by providing new protective gear, emergency vehicles and other critical resources. One grant will help pay for a 40,000-gallon water tank firefighters can use in the Spicewood area, where the nearest fire hydrants are several miles away. Another will provide a new thermal imaging camera and smoke evacuation fans to aid firefighters in Kerr County.
LCRA General Manager Phil Wilson said providing these grants to volunteer fire departments and other first responders is important to help keep communities safe.
“By helping supply new protective gear and better, up-to-date equipment, we can make it easier for first responders to get to emergencies quickly, with top-notch gear at their sides as they work to protect people who need help,” Wilson said.
Wilson said the grants are one way LCRA gives back to the communities it serves.
“LCRA is proud to contribute to these much-needed projects,” Wilson said. “Each individual project adds value to its community. We’re pleased to support these projects, and in turn, the economic development of communities in our service area.”
To date, LCRA and its wholesale electric customers have awarded 1,852 community grants totaling nearly $48 million. When combined with more than $228 million in community-raised matching funds, the program has invested more than $276 million in local communities.
CDPP grants are awarded twice a year for capital projects for volunteer fire departments, emergency responders, cities and counties, schools, libraries, civic groups, museums, and other tax-exempt non-profit organizations. Applications for the next round of grants will be available at lcra.org/cdpp on Jan. 1 and are due by midnight on Jan. 31.
The 32 grants awarded in the most recent grant cycle are:
About LCRA
The Lower Colorado River Authority serves customers and communities throughout Texas by managing the lower Colorado River; generating and transmitting electric power; providing a clean, reliable water supply; and offering outdoor adventures at more than 40 parks along the Colorado River from the Texas Hill Country to the Gulf Coast. LCRA and its employees are committed to fulfilling our mission to enhance the quality of life of the Texans we serve through water stewardship, energy and community service. LCRA was created by the Texas Legislature in 1934 and receives no state appropriations. For more information, visit lcra.org.
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