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March 2005
The Eu225 million ($297 million) Astraeus wind farm project reached financial close on Tuesday. The debt will be syndicated, going out to market mid-April.
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Banks are bidding to arrange a Eu90 million nine year project finance deal for Estlink, a submarine power cable connecting Finland and the Baltic states.
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Banco Nacional de Desenvolvimento Econômico e Social (BNDES) has approved a R100 million ($36.3 million) financing for Usina de Açúcar Santa Terezinha's Tapejara cogeneration plant. The plant, owned by Santa Terezinha, which controls four plants in the state of Parana and focuses on sugar and alcoho...
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The acquisition of Premier Transmission by Northern Ireland Energy Holdings closed on 18 March through 100% senior debt financing.
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Goldman Sachs has launched a $946 million financing for its Cogentrix subsidiary, through special purpose vehicle Cogentrix Delaware Holdings. The financing will be used to repay loans raised in February 2004 to fund Goldman Sachs' acquisition of the Cogentrix portfolio, as well as fund a new acquis...
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Energy Investors Funds, ArcLight and Delta Power have closed a $295 million private placement for the Crockett Cogeneration power plant. The debt, underwritten and placed by BNP Paribas, has a maturity of 20 years, and a 10.6-year average life. The deal priced at 140bp over the ten-year Treasury for...
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The A$167 million four year refinancing for Gladstone Power Station in Queensland, Australia signs today
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The $100 million JBIC guaranteed loan backing J-Power and Sumitomo's acquisition of the CBK Power concession in the Philippines has signed – the first use of JBIC's new subordinated holding company loan product.
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The Eu1 billion ($1.34 billion) lignite-fired power plant in Maritza, south-east Bulgaria is in due diligence and in the last stages of finalising the finance plan. Hermes, Coface and MIGA are all negotiating credit support provision, including extended political risk cover.
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CLP Holdings has confirmed the A$2.128 billion acquisition of Singapore Power's merchant energy and retail business in Australia. The Hong Kong-based electric power utility will fund the purchase though a combination of project finance and cash.
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The A$260million 12-year term facility for Flinders Power Finance was signed on 7 March via arrangers National Australia Bank and KBC Bank.
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Calyon has been appointed lead arranger for a £60 million ($115 million) wood-burning power station project - Wilton 10 - to be built in Teesside, Newcastle. Financial close is anticipated for the 31 March and the plant is due to operate by mid 2007.
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Novera Energy and Scotland's Renewable Energy Development Group in a joint venture, will co-develop nine wind energy sites in Scotland and northern England: two on the Scottish border; two in the south west council area of the highlands; two in the Angus area; one in east Yorkshire; one in the centr...
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Shell Renewables and Entergy closed the $76 million Top Deer financing on 8 March with three arrangers. The three – Calyon, HVB and WestLB – are likely to hold on to their commitments to the financing, a reflection of the tight bank economic and competition for the mandate. The seven-year deal is un...
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Calpine has closed $503 million in project debt to fund construction of the 375MW Mankato Energy Center in Minnesota, and the 250MW Freeport Energy Center in Texas.
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FPL Energy has closed a $465 million financing for its FPL Energy National Wind portfolio. The deal, underwritten and lead managed by Credit Suisse First Boston, consists of simultaneous issues of operating company (Opco) and holding company (holdco) bonds. This the second US wind portfolio to raise...
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Marubeni and Mitsubishi have closed a $910 million financing for the PDET oil pipeline system in Brazil. The deal follows the tradition of Japanese trading company involvement in Brazil's oil and gas sector, but has not been without its hurdles. The project has been three years in the making and has...
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ANZ, Calyon and Suncorp-Metway have been mandated for a A$310 million project finance facility to fund construction of the Wambo Power Braemar gas fired generation plant, expected to begin this month, in Australia. The 18 month construction loan will convert into a A$180 million 12 year term loan at...
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Power and water purchase agreements (PWPA) for the Ras Laffan IWPP 2 project in Qatar are expected to be signed today. The Qatar General Electricity and Water company (Kahramaa) will offtake all output for 25 years.
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Power
01 March 2005
KGen pitches refinancing
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The Eu242 million 20-year financing for the Voghera power plant is expected to close when construction is complete at the end of March. Documentation is currently working through.