Macquarie Commits $450M for Texas Gas-Fired Power Project

SECAUCUS, NJ (DTN) – Macquarie Asset Management announced on Tuesday (10/28) that it has provided $450 million in funding to Sandow Lakes Energy Station for the construction of a 1.2 GW combined cycle gas turbine (CCGT) in Lee County, Texas.

The financing secures two Siemens SGT6-9000HL gas turbines and accelerates the power project, which is designed to supply electricity to energy-intensive infrastructure, according to a company statement.

As power and transmission grids strive to maintain sufficient capacity and balance intermittent generation, demand for CCGT equipment has surged, with the timeline and delivery queue for new orders extending into the 2030s, Macquarie stated.

Sandow is expected to generate commercial power from the expedited plant from 2028 onwards.