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.
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SOURCE EmberClear Management