"Under the loan agreement, subject to customary financial closing procedures, total project costs are not to exceed $175 million, with the PUC providing a 20-year TEF loan of up to $105 million at a 3% interest rate," said a press release on Abbott's official website. The governor's office added that the Kerrville Public Utility Board is the project's sponsor and will develop the facility, which is projected to begin operations by 2027.