LCRA Bond Sale

September 30, 2019

The Lower Colorado River Authority is planning a $169.5 million revenue bond sale to be priced this week.

The A and A+ notes set for Wednesday are to be processed through Barclays for use in financing upgrades in transmission systems, the power and water wholesaler said.

LCRA Transmission Services Corporation based in Austin services 82 counties in Texas, including leased lines from some of its wholesalers, and owns or operates over 5,000 miles of transmission lines, substations included.

The LCRA has been upgrading its renewables, announcing in July its contract to purchase energy from a solar plant to be built in Borden County about 50 miles southeast of Lubbock, to serve wholesale customers starting in 2021.

The solar power is intended to supplement LCRA’s other renewable energy, including “295 MW available from hydroelectric generation at dams along the Highland Lakes and 10 MW from a south Texas solar plant under construction,” the company said.