Menu Sectors
Project Finance Copying and distributing are prohibited without permission of the publisher

Elwood Energy: peaker-boo

01 November 2001

Read more: [BOT]

Elwood Energy, a joint venture of Dominion Energy and People's Energy, has completed a $402 million bond financing in what is billed as one of the first bond financings of a peaker plant.

Lenders view peaker plants, which come on- and off-line at short notice to capture value from spikes in wholesale electricity prices, as a very risky proposition. This deal, which mixes up a solid contractual element with an unprecedented series of enhancements, could well be a template deal for the 6500MW of peaking capacity that is currently planned for the United States.

Elwood is a 1049MW plant located 50 miles from the lucrative load pocket of Chicago, Illinois. It consists of nine simple-cycle GE 7FA turbines installed in two phases: the first four units were in place in 1999, and the next five were in place in July 2001. The construction was carried out by GE Power Systems,...

Latest Deals Database updates

Reading Civic Centre Update date 17/04/2014
Sector Social Infrastructure/PPP/P3/PFI > Social Housing
Country Europe - EU > UK
Total Debt Loan Amount
Status Preferred bidder
El Limon-Guajes Gold Update date 17/04/2014
Sector Mining/Metals > Metals
Country Latin America > Mexico
Total Debt Loan Amount
Status Finance mandated
Highway 407 East (Phase 2) Update date 17/04/2014
Sector Transport > Highway maintenance
Country North America > USA
Total Debt Loan Amount
Status RFP
Change font size: Switch to default font size Switch to medium font size Switch to large font size