Cashu Logo
HomeWatchlistNewsSignalsPicks
DJI
+0.37%
SPX
+0.49%
IXIC
+0.71%
FTSE
-0.12%
N225
0.00%
AXJO
0.00%
Cashu Logo
Log In
HomeWatchlistNewsSignalsPicks
Stocks
Consumer Discretionary
ela
Envela
NYSE MKT LLC: ELA
+0.17 (+2.22%)
7.82
USD
At close at Sep 19, 20:41 UTC
Summary
News
Signals
Benchmarks
Financials

Envela's Entergy Texas: New Power Plants to Boost Energy and Economy in Southeast Texas

publisher logo
Cashu
10 days ago
Cashu TLDR
  • Entergy Texas is constructing two natural gas power plants to meet rising energy demands in Southeast Texas.
  • The Legend and Lone Star power stations will generate over 1,200 megawatts, powering 300,000 homes by mid-2028.
  • These projects will create 9,000 construction jobs and contribute $2.8 billion to the local economy.
ela Logo
ELA
Envela
2.22%

Entergy Texas Advances Energy Infrastructure with New Power Plants

Entergy Texas, a subsidiary of Entergy Corporation, is making significant strides in enhancing the energy landscape of Southeast Texas. Recently, the Public Utility Commission of Texas has approved the construction of two natural gas power plants, the Legend and Lone Star power stations. Together, these facilities are projected to generate more than 1,200 megawatts of electricity, sufficient to power over 300,000 homes. With operations slated to begin by mid-2028, these developments are crucial for meeting the escalating energy demands in a rapidly growing region.

The Legend Power Station, strategically located in Port Arthur, is set to provide electricity to approximately 190,000 homes and is anticipated to inject around $1.79 billion into the local economy, supported by a $1.6 billion investment. In parallel, the Lone Star Power Station, situated near Cleveland, aims to service more than 110,000 homes and is expected to contribute $951 million in economic activity from a $799 million investment. The construction of these power plants will not only enhance energy reliability but will also create over 9,000 construction jobs, significantly benefiting the local workforce and economy.

Eliecer Viamontes, CEO of Entergy Texas, highlights that these initiatives are vital for addressing the urgent electricity needs of families, businesses, and essential services in the area. These projects are part of the Southeast Texas Energy Plan, known as STEP Ahead, which focuses on fostering economic growth and ensuring reliable energy supply in one of the nation's most rapidly expanding service areas. Entergy Texas remains committed to delivering affordable and sustainable energy to its 524,000 customers across 27 counties, contributing an estimated $2.8 billion in economic activity to the region.

In addition to the direct economic impacts, these power plants align with Entergy Texas' broader strategy of investing in infrastructure to support sustainable energy solutions. By integrating new technologies and efficient power generation methods, Entergy Texas aims to enhance the overall energy landscape while addressing environmental considerations.

As Southeast Texas continues to experience growth, the timely development of these power plants positions Entergy Texas as a key player in meeting future energy demands, while simultaneously promoting economic stability and job creation in the region. The construction of the Legend and Lone Star power stations represents a pivotal step toward a more resilient and sustainable energy framework for the community.

The content provided here is for informational purposes only and should not be considered financial or investment advice. Investing in stocks carries risks, including potential loss of principal. Always do your own research and consult with a licensed financial advisor before making any investment decisions. We are not responsible for any losses or damages resulting from your use of this information.

More News

Feature in Progress
This section is under development. Check back soon for updates!
Join our newsletter to keep up to date with us!
Cashu Logo Alt
Cashu is the #1 way to stay ahead of the markets, know why your favourite stocks are moving and access valuation signals that smash the market.

Company

  • About Us
  • Careers
  • Blog
  • News

Help & Support

  • Help Center
  • Contact Us
  • Pro Support

Legal

  • Privacy Policy
  • Terms of Use
InstagramYouTube

© 2024 Cashu PTY LTD.