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Kerrville utility board wins council approval to finance 22 MW gas plant to stabilize rates
Summary
Kerrville City Council approved the city-sponsored KPUB Public Facility Corporation financing package authorizing KPUB to pursue a 22-megawatt natural‑gas generation project with a parameters cap of $175 million; council approved the sponsor resolution supporting the bond issuance and power sale arrangement.
Kerrville City Council on March 11 authorized the KPUB Public Facility Corporation to move forward with financing for a locally owned, 22‑megawatt natural‑gas reciprocating engine power plant intended to reduce KPUB customers’ exposure to wholesale market volatility.
The council approved a parameters resolution that lets the Public Facility Corporation seek up to $175 million in project funding, with an expected construction cost estimate of $160–$165 million. KPUB staff said the financing plan anticipates roughly 60% of the project funded through the Texas Energy Fund (a Public Utility Commission of Texas program) at a 3% fixed interest rate and the remaining 40% with tax‑exempt revenue bonds sold on the open market. Staff and bond counsel said those bonds were priced in the…
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