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ENTERGY CORP
Symbol U : ETR
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Shovel Ready: Entergy Texas Breaks Ground on First Power Plant in 40 Years

2019-02-15 13:26 ET - News Release

New generating facility to power Southeast Texas

WILLIS, Texas, Feb. 15, 2019 /PRNewswire/ -- The shovels hitting the dirt this morning marked a new chapter for reliable, affordable energy across Southeast Texas. Entergy executives, elected officials and community leaders gathered to celebrate a groundbreaking marking the ceremonial start of construction on the Montgomery County Power Station.

MCPS is a state-of-the-art, 993-megawatt combined cycle gas turbine plant under construction next to the existing Lewis Creek Power Plant in Willis. The facility will provide a new source of reliable, low-cost and clean energy to meet the growing power demand across Southeast Texas.

"Southeast Texas is growing, and Entergy Texas needs to invest now to power that growth," said Sallie Rainer, president and CEO of Entergy Texas, Inc. "By providing reliable, affordable power, we can meet our customers' needs today, while laying the foundation for future growth across our region."

The construction of MCPS will modernize Entergy Texas' generation fleet using new technology that provides a cleaner and more efficient source of power. This efficient technology will benefit customers by providing a savings of approximately $1.7 billion over the next 30 years.

In addition to meeting customer needs, MCPS will also have a substantial impact on the Texas economy. An independent economic analysis by TXP, Inc. estimates that construction alone is expected to generate an estimated $1 billion in economic activity across the state. Additionally, construction is expected to create a multiplier effect of more than 7,000 jobs (direct, indirect, induced).

"We are committed to making investments that move our customers and communities forward," said Rainer. "MCPS is a part of our $2 billion investment in infrastructure that will create jobs, spur economic development and serve our customers."

Entergy issued final notice to proceed on the plan in August 2018. The plant is expected to be online by mid-2021.

Entergy Texas, Inc. provides electricity to approximately 458,000 customers in 27 counties. Entergy Corporation (NYSE: ETR) is an integrated energy company engaged primarily in electric power production and retail distribution operations. Entergy owns and operates power plants with approximately 30,000 megawatts of electric generating capacity, including nearly 9,000 megawatts of nuclear power. Entergy delivers electricity to 2.9 million utility customers in Arkansas, Louisiana, Mississippi and Texas. Entergy has annual revenues of approximately $10.8 billion and nearly 13,000 employees.

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