Copying and distributing are prohibited without permission of the publisher
Kleen Energy: LICAP's heir
01 May 2008
Read more:
[kleen energy]
[project finance]
Goldman Sachs has launched the $1.15 billion construction financing for the Kleen Energy power project to retail syndication. The financing is a rarity in the north-eastern US, since it benefits from a strong contract with a local utility. But several quirks in the deal, including its construction risk mitigation and syndication approach, also set it apart from previous practice in the power finance business.
Kleen Energy is a proposed 620MW combined-cycle gas-fired project that can run on both natural gas and low-sulphur fuel oil. It is located close to Middletown, in the central part of Connecticut. Its developer is William Corvo, an industry consultant, who continues to be represented as a sponsor through his stake in White Rock Holdings.
The principal sponsor of the project is now EIF Group, through three of its power funds – United States Power Fund II LP, USPF II Institutional Fund LP and United...
You must be logged in to view this page. If you are already a subscriber, or have an active trial, simply log in below.
If you’re not a registered user, you can get access to the website by taking a free trial. You can register for a trial online or by contacting our sales team – simply email benchbase@projectfinancemagazine.com or call +44 (0) 20 7779 8284.
Subscribe
Subscribers have unlimited access to all current and archive content. Start your
subscription today - click on the button below.
Subscribe
Free trial
Taking a free trial will give you access to the latest news and analysis, as
well as the online deals database, BenchBase. Start your free trial today.
Free Trial