$40M fund created for big energy project

David Miller, Texas Tech’s vice chancellor of commercialization, said the project is in its early stages, and that it’s unclear what role Republic Power will play. But it’s probable that it will operate as a “utility provider” re-selling alternative power rather than generating the power, he said.

Written by: Jessica Behnham

A group of prominent businessmen plan to raise $40 million for an Austin-based investment fund to finance a project that would sell alternative energy generated in West Texas.

Republic Power Partners LP is raising the money for the proposed project with the West Texas Municipal Power Agency to enable the newly formed High Plains Diversified Energy Corp. to issue bonds to build the project.

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