February 2005

Calenia CCGT project draw down 25 February 2005

The first draw down for the Eu453.2 million 800MW Calenia Energia CCGT project at Sparanise in Campania, Italy, is anticipated by the end of March. The financing documents for the project were signed on February 18.

KGen readies refinancing 25 February 2005

KGen LLC is preparing a $475 million refinancing for its portfolio of merchant assets located in the southeastern US. KGen, owned by hedge fund Matlin Patterson, bought the 4,085MW portfolio from Duke Energy North America in September 2004, after agreeing a $475 million price in May. The plants are ...

Besicorp touts power and paper projects 23 February 2005

Besicorp-Empire Development Company (BEDCO) - a joint venture between Besicorp Development and Empire State Newsprint - is hoping to reach market with two separate deals: the first for a newspaper recycling plant (Besicorp-Empire Newsprint) and the second for a 505MW combine-cycle gas turbine power ...

Calpine refinances Saltend 21 February 2005

Calpine Corporation has completed a $260 million redeemable preferred share issue to finance the acquisition of the Saltend project. According to Calpine, Calpine European Funding (Jersey) Limited received funding on the $260 million issue, due on 30 July 2005, on 1 February. The bookrunner is belie...

Hawkeye Renewables prices 21 February 2005

Bookrunner Credit Suisse first Boston is currently finalising allocations for the $186 million Hawkeye Renewables financing in the US. The deal, due in 2012, is for one existing ethanol plant, as well as one newbuild ethanol project, and an ethanol expansion. The financing, which launched a month ag...

Westinghouse gets Exim prelim approval for China nuclear bid 21 February 2005

US Exim has approved a preliminary commitment request for a combination of guaranteed and/or direct loans of up to almost $5 billion to support a Westinghouse-led bid to build four nuclear power plants at two sites in China. Westinghouse, Bechtel and Mitsubishi Heavy Industries are bidding to suppl...

Astraeus wind deal edges towards financial close 15 February 2005

The Eu250 million ($325 million) Astraeus wind farm project, comprising the construction of four projects in France and one in Ireland, is in the final stages of documentation and will reach financial close in mid-March. Syndication of the debt will happen straight after close.

Energia's merchant roll out continues 15 February 2005

Financing for Energia's 760MW Modugno plant in Bari, Italy, is in the final stages of documentation and will complete by May.

Ras Laffan IWPP 2 nears close 14 February 2005

The sponsors for the $900 million Ras Laffan IWPP 2 project in Qatar will sign power and water purchase agreements (PWPA) imminently, with financial close anticipated at the end of February. A banker on the deal says negotiations are in their final phase and that "it is now a case of dotting the...

FPL prepares second wind deal 11 February 2005

FPL Energy will shortly launch a $451 million financing for a 533.6MW portfolio of wind projects ? its second such deal for renewables assets. The deal, to be led by Credit Suisse First Boston, will be split into a $351 million operating company senior secured issue, due in 2024, and a $100 million ...

Banks mandated on Crookwell wind deal 09 February 2005

Bank of Scotland and National Australia Bank have been mandated to provide approximately A$140 million as a project financing for Gamesa's 120MW Crookwell II wind farm in New South Wales, Australia.

Calpine closes Metcalf Energy financing 09 February 2005

The $100 million, non-recourse credit facility for Calpine's indirect subsidiary the Metcalf Energy Center in San Jose, California, closed on 2 February - the first single-asset, merchant project financing in California since the energy crisis.

Elektrownia Belchatow going corporate to back expansion project 09 February 2005

The Elektrownia Belchatow power plant in Poland is looking to raise around Eu800 million to finance the construction of an 833MW electricity generation unit and other related projects.

Flinders Power refinancing 09 February 2005

National Australia Bank and KBC Bank will be signing a A$260 million ($200 million) 12-year refinancing by the end of the month for Flinders Power Finance, a wholly owned subsidiary of NRG Energy.

Ras Laffan IWPP2 project agreement signed 04 February 2005

Project agreements for the $900 million Ras Laffan IWPP 2 project should be signed imminently, with financial close expected at the end of March. Banks are expected be lined up before financial close for the sell-down of the loan. A club style deal is expected.

Syndication launched for Sabine Pass project 04 February 2005

General syndication was launched for the $1 billion Sabine Pass project on 19 January. The $741 million loan is lead arranged by HSBC and SG.

British re-energizing 01 February 2005

The relaunch of British Energy has been accorded one of the most complicated restructurings to date. But it is a controversial deal that has left a bitter taste with shareholders. By Andreas Campomar

Feeding frenzy 01 February 2005

With four deals in or around the market, the Italian power project sector is buzzing. But with bank liquidity so high, and power assets scarce, margins are very tight. Will those that lend now, regret later? By Paul Smith

FibroMinn LLC: Talking turkey 01 February 2005

?Biomass? is a very neutral name for a fuel that covers a multitude of sources, some of them more appetising than others. Straw, wood chips, cellulose, paper, plants and industrial waste are all good examples, but the king of biomass fuels is manure. Fibrowatt USA and Homeland Renewable Energy's...

K-Power: The merchant Won-der 01 February 2005

The KRW684.2 billion ($668 million) K-Power financing closed 9 December, and marks a genuine first for project sponsors in Asia. The arranger and financial adviser behind the Korean project financing are hailing the deal as the first true merchant power financing in the Asia-Pacific region outsi...

Local zeros 01 February 2005

Central American sponsors are now assured of plentiful support in regional capital markets. But dollar tariffs, and dollar debt, are still required to make some deals bankable. By Rainbow Nelson

Power 01 February 2005

Tyr and ArcLight finance Lincoln