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T-Power CCGT reaches financial close

19 December 2008

Read more: [t-power] [project finance]

International Power, Siemens Project Ventures and Tessenderlo Chemie have secured project financing from 10 banks for the T-Power 420MW CCGT greenfield project in Tessenderlo in Eastern Belgium. At financial close IP bought Advanced Power's 33% in the project for Eu23 million ($32.5 million), paid from its cash reserves.

The total project cost is around Eu448 million, funded 85:15 debt-equity. The Eu440 million debt was...

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