transportation station

Newly appointed Houston METRO chair vows​ to bring clean, reliable public transit

Elizabeth Gonzalez Brock was named as board chair of the Metropolitan Transit Authority of Harris County. Photo via LinkedIn

Houston Mayor John Whitmire named the new board chair of the Metropolitan Transit Authority of Harris County.

An executive at Houston-based CenterPoint Energy, Elizabeth Gonzalez Brock was appointed to lead Houston METRO. The move, pending City Council and board approval, would make her the first Hispanic woman to chair the state's largest transit authority.

"I am grateful to Mayor Whitmire for the honor and opportunity to lead METRO as Board Chair and to be entrusted with this important responsibility, said Brock in a news release. “By appointing the first Hispanic woman in this role, the mayor confirms his commitment to identifying experienced, qualified, and diverse individuals to serve our city and his administration.

"I look forward to working collaboratively with the mayor, the METRO Board, and all levels of government to transform METRO into a best-in-class model of transit, accountability and transparency," she continues. "We will empower a strong management team that will drive measurable results and work directly with customers to understand their real needs to make public transit a safe, clean, and viable option for everyone.”

Brock is vice president of utility infrastructure planning and policy at CenterPoint Energy where she led large customer service, business, and economic development. Brock previously held positions at Reliant Energy, Texas Southern University, and the University of Houston in leadership roles. Brock graduated from the University of Houston with a bachelor's degree in political science.

She has been a member of the Board of Houston First Corporation since 2017 and was a founding member and chair of EV nonprofit Evolve Houston.

"Elizabeth is the leader we need for METRO today,” Whitmire said in a news release. “She brings a 'customer first' mindset, which is exactly the thinking our community deserves," Mayor Whitmire said. "Safety and reliability are key for all who depend on or commute alongside public transportation. I am confident that Elizabeth will use her results-driven expertise to drive METRO to deliver a user-friendly and fiscally responsible transit system to all. She understands that my priority is providing mobility options for all Houstonians."

The area has a 1,309-square-mile service area and an annual budget of $ 1.6 billion.

Recently, Whitmire announced Houston Airports Chief Operating Officer Jim Szczesniak replaced longtime Director Mario Diaz. Diaz was head of Houston Airports since 2010 and oversaw the George Bush Intercontinental Airport, William P. Hobby Airport and Ellington Airport, a military use airport. Szczesniak served as Houston Airport’ chief operating officer for the past two years. He previously led the multibillion-dollar capital improvement program.

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A View From HETI

Fervo Energy has closed financing to support the remaining construction costs for the first phase of Cape Station. Photo via fervoenergy.com

Houston geothermal unicorn Fervo Energy has closed $421 million in non-recourse debt financing for the first phase of its flagship Cape Station project in Beaver County, Utah.

Fervo believes Cape Station can meet the needs of surging power demand from data centers, domestic manufacturing and an energy market aiming to use clean and reliable power. According to the company, Cape Station will begin delivering its first power to the grid this year and is expected to reach approximately 100 megwatts of operating capacity by early 2027. Fervo added that it plans to scale to 500 megawatts.

The $421 million financing package includes a $309 million construction-to-term loan, a $61 million tax credit bridge loan, and a $51 million letter of credit facility. The facilities will fund the remaining construction costs for the first phase of Cape Station, and will also support the project’s counterparty credit support requirements.

Coordinating lead arrangers include Barclays, BBVA, HSBC, MUFG, RBC and Société Générale, with additional participation from Bank of America, J.P. Morgan and Sumitomo Mitsui Trust Bank, Limited, New York Branch.

“As demand for firm, clean, affordable power accelerates, EGS (Enhanced Geothermal Systems) is set to become a core energy asset class for infrastructure lenders,” Sean Pollock, managing director, project Finance at RBC Capital Markets, said in a news release. “Fervo is pioneering this step change with Cape Station, a vital contribution to American energy security that RBC is proud to support.”

The oversubscribed financing marks Cape Station’s shift from early-stage and bridge funding to a long-term, non-recourse capital structure, according to the news release.

“Non-recourse financing has historically been considered out of reach for first-of-a-kind projects,” David Ulrey, CFO of Fervo Energy, said in a news release. “Cape Station disrupts that narrative. With proven oil and gas technology paired with AI-enabled drilling and exploration, robust commercial offtake, operational consistency, and an unrelenting focus on health and safety, we have shown that EGS is a highly bankable asset class.”

Fervo continues to be one of the top-funded startups in the Houston area. The company has raised about $1.5 billion prior to the latest $421 million. It also closed a $462 million Series E in December.

According to Axios Pro, Fervo filed for an IPO that would value the company between $2 billion and $3 billion in January.

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