The Projects are designed to offer firm support during the times of increased demand or emergencies

HOUSTON, Aug. 9, 2024 /PRNewswire/ -- EmberClear Management is excited to announce the submission of loan applications for two 900MW power projects to the Texas Energy Fund. The proposed power plants are strategically located: the EmberYork Energy Center in Austin County and the EmberGreen Energy Center in Wharton County. Each project will deliver 900 megawatts of dispatchable, flexible, long-duration natural gas-fired electricity to the Houston area. Both facilities can ramp up to their full capacity in under 10 minutes and remain online as long as needed.

The facilities are strategically located near several large interstate natural gas pipelines and over 60 billion cubic feet of storage capacity, ensuring a reliable gas supply for uninterrupted operations. The newly constructed Matterhorn pipeline, with a capacity of 2 BCF per day, already connects to both facilities. EmberClear has engaged with Houston-based ConocoPhillips to secure a firm gas supply for both projects, with ConocoPhillips maintaining firm capacity on the Matterhorn Pipeline.

EmberClear has advanced discussions with a leading gas turbine manufacturer for timely delivery of major equipment as well as their potential participation in financing of the projects. EmberClear expects to continue these discussions to secure delivery of major equipment consistent with the Projects overall development, financing, and construction timeline.

ERCOT's power demand is projected to grow from 86 GW to potentially 150 GW by 2030, rapidly outpacing power supply and creating significant challenges for key metropolitan areas. "For businesses, manufacturers, and families, there is no better place to be than Texas," said Peter Perri III, Managing Partner of Jupiter Island Capital, an investor in the projects. He continued, "We applaud the Texas legislature and PUCT for taking decisive action with the Texas Energy Fund to ensure a reliable, dispatchable electricity supply for all Texans. It's a thoughtful approach demonstrating how good government can collaborate with businesses to achieve great results for citizens."

EmberClear has a remarkable track record of developing large power plants across North America. The company developed the $700 million Birdsboro Power plant, operational in Pennsylvania since 2019. More recently, EmberClear partnered with one of the largest private equity funds to begin construction on the $1.5 billion, 1,200 MW Lincoln Land Energy Center near Springfield, Illinois.

"This initiative aligns perfectly with the vision of the Governor, the Texas Legislature, and the voters of Texas when they approved the creation of the Texas Energy Fund," said EmberClear Chairman David Anderson. "EmberClear has extensive experience developing thousands of megawatts in power projects across the United States, and we are excited to partner with Texas to bring this expertise home, making the EmberYork and EmberGreen Power Projects a reality."

EmberClear proactively collaborated with community leaders, securing support letters from Austin County Judge Tim Lapham, Wharton County Judge Phillip Spenrath, and State Representative Stan Kitzman. In his support letter to the Texas Public Utility Commission, Judge Spenrath stated, "Wharton County wholeheartedly endorses EmberClear's endeavor to establish the peaker plant within our vicinity. We eagerly anticipate collaborating with their team to realize this project and further bolster our County's energy infrastructure."

These agreements, in partnership with the Texas Energy Fund, will provide the State of Texas and the greater Houston Metro area with power generation facilities that will become immediate strategic assets for the ERCOT grid, ensuring energy security for the region. With a combined capacity of 1,800 megawatts, capable of ramping to full production in less than 10 minutes with unlimited duration, EmberYork and EmberGreen will be able to support Houston and the Texas Gulf Coast under any contingency.

SOURCE EmberClear Management