Lost Pines 1 Power Project began generating and selling electricity in May 2001. The natural gas-fired, combined-cycle unit is owned by GenTex Power Corporation, an LCRA affiliate. It shares the Lost Pines Power Park in Bastrop County with LCRA's Sim Gideon Power Plant.

Lost Pines 1 is helping LCRA continue serving a high-growth region in Central Texas. The plant can generate up to 500 megawatts (MW) of electricity. That’s enough to serve about 125,000 typical Central Texas homes when the demand for power is highest, such as very hot summer afternoons or cold winter nights. By using a combined-cycle generation process, the plant uses 30 to 40 percent less fuel than a traditional natural gas-fired plant would to produce the same amount of electric power.The GenTex sells Lost Pines 1 Power Project's output to the city-owned utilities and electric cooperatives that buy power from LCRA. Also, under the terms of a January 2004 purchase agreement, GenTex agreed to sell up to 250 megawatts of electricity to Calpine Energy Services through Dec. 31, 2004.

The combination of plant efficiency and a $2 million emissions reduction plan, developed with regional environmental groups prior to construction, have enabled the plant to decrease the site's nitrogen oxide (NOx) emissions by nearly half. This is achieved through a combination of NOx reductions at Sim Gideon and offsets provided by the new plant.

Lost Pines 1 Power Project is a taxable entity and pays about $3.5 million a year in property taxes to the county and local school districts.