Entergy Texas Enters $1.45 Billion Leased Gas Plant Financing Agreements
Entergy Texas, a subsidiary of Entergy, signed agreements on December 9, 2025 to build and lease the planned 754-megawatt Legend Power Station gas plant in Jefferson County, Texas. Construction costs funded under the agreements are expected not to exceed $1.450 billion, and the arrangement creates a lease obligation for the utility once the lease starts.
Key points
- Construction costs expected not to exceed $1.450 billion, funded through the Participation Agreement with Bank of America, N.A. as Administrative Agent
- Lease expected to commence about 26 months after December 9, 2025, for a term of up to about 58 months
- Entergy Texas has an option to buy the facility at any time after lease commencement; it must elect to extend, buy, or sell at the end of the term
- Agreements include a debt ratio covenant requiring consolidated debt of 65% or less of total capitalization
The filing
Written by AI on Nov 8, 2026, 1:42 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on December 11, 2025.
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