-
April 2005
US Geothermal is currently assembling a financing for phase one the Raft River geothermal project in Idaho. It has appointed Marathon Capital as financial adviser to assist it in sourcing both debt and equity for the project. The sponsor says that it is currently examining two options - a limite...
-
The Lao Peoples' Democratic Republic has signed equity agreements with the World Bank's International Development Association (IDA), the Asian Development Bank, the Agence Francaise de Developpement (AFD), the European Investment Bank (EIB) and the Nam Theun 2 Power Company (NTPC). The agreements co...
-
Financial close has been reached on the $3 billion acquisition and expansion of the Taweelah B independent power and desalination plant (IWPP) in Abu Dhabi, in the United Arab Emirates (UAE). The deal involves the sale and acquisition financing of 40% of Taweelah B by Taweelah United Power Compa...
-
The International Finance Corporation (IFC) has completed a $49 million financing for India's AD Hydro Power Limited. The financing is notable for being extended to a merchant asset, and the deal is understood to be one of the first uncontracted power financings in South Asia. The IFC's financin...
-
Calyon has completed the syndication of a £116 million project finance facility for SembCorp Utilities' Wilton 10 biomass project. The 30MW wood-fired project, located at the Wilton industrial site in northeastern England, will be the largest of its type in the UK. Calyon, the sole mandated lead arr...
-
The deadline for bids to arrange Elektrownia Belchatow's Eu880 million power plant loan is likely to be extended until May 3 or May 5.
-
Banks have begun preliminary discussions with Sohar Aluminium Company (SAC) on the financing of the Sohar Aluminium smelter project and a formal request for proposals is expected shortly.
-
Calyon has closed a bank refinancing for the Astoria power project, the first time a project finance bank has refinanced a Term B financing. The project sponsors, SCS Energy, EIF, SNC Lavalin, Caisse Des Depots and AE Investor, have taken advantage of the progress of construction at the project's si...
-
The 20-year $650 million financing for the 1,025MW Ras Laffan IWPP 2 project should close at the end of April. Mandated lead arrangers Bank of Tokyo-Mitsubishi, Calyon, Gulf International Bank (GIB), HSBC, Qatar National Bank and Royal Bank of Scotland are offering lenders two tickets - $40 mill...
-
The financing for BP Solar's A$21.2 million project to supply 5,000 solar-powered drip irrigation systems to the Sri Lankan Ministry of Agriculture, has closed. Citibank provided A$18.3 million of debt, guaranteed by EFIC.
-
WestLB has completed a $158.3 million refinancing of the Sweeny Cogeneration project. The financing breaks down into the refinancing of a $127.7 million senior secured credit facility and a new $30.6 million tranche, which replaced the existing subordinated debt at the borrower. Sweeny Cogeneration ...
-
Energy Investors Funds has provided $8 million in convertible debt funding to the Strait of Juan de Fuca transmission cable project.
-
A joint venture of FPL Energy and Carlyle/Riverstone is finalising a project deal to back its acquisition of majority interests in five 30MW solar projects in California. The projects are known as the Solar Energy Generating Systems 3-7 (SEGS III-VII) and are located in the Mojave desert. They s...
-
Syndication of the Olivento wind farm Eu196 million acquisition debt facility has closed. Underwritten in December 2004 by mandated lead arrangers Dexia and Bank of Scotland, six banks joined in syndication - Allied Irish Banks, Banco Sabadell, BNP Paribas, KBC Finance Ireland, Natexis Banques Popul...
-
Financing for the Voghera Energia power project in Italy has signed. The Eu212 million deal - lead arranged by HSBC and Mediocredito Centrale (MCC) - is split between a Eu192 million 20-year term loan, a Eu15 million six-year term loan and a Eu5 million one-year revolver.
-
GE Commercial Finance Energy Financial Services has disclosed that it was the provider of $143.9 million in financing towards Tyr Energy and ArcLight Capital's acquisition of the Lincoln generating plant. GE's financing is the first time it has provided straight senior debt to a power project - ...
-
Unless it has a US dollar income stream or strong multilateral support, bankers are sceptical any of the 91 projects in Indonesia's new infrastructure programme will get done quickly. Is this a case of less may be more?
By Dominic Jones
-
Mandated arrangers Calyon, HSBC, ING Bank and Sumitomo Mitsui Banking Corp pre-funded the S$525 million ($317 million) project loan for Keppel Merlimau Cogen - a wholly owned special purpose vehicle of Keppel Energy - on 30 March.
-
While the S$525 million ($318 million) financing for Keppel Energy's gas-fired power plant may not be the largest ever completed – it is the first of its kind in Singapore's newly restructured national electricity market. The Keppel Merlimau cogeneration project proves that power revenues remain...
-
The $475 million refinancing of KGen's acquisition of the 5,325MW portfolio from Duke Energy highlights how far the US lending market for merchant risk has come. Not only is the deal an unusual way of structuring a power project financing – with lender support predominantly pinned on the success...
-
Islamic finance is expected to play a bigger role in Middle East projects in the coming year. But the practice is not restricted to locals. International banks and local lenders that have traditionally been pure commercial players are setting up Islamic capabilities. By Michael Marray
-
Power
01 April 2005
Sweeny refinancing closes
-
Mandated lead arrangers Bank of Tokyo-Mitsubishi, Calyon, Gulf International Bank (GIB), HSBC, Qatar National Bank and Royal Bank of Scotland are offering lenders two tickets - $40 million for a fee of 75bp, and $20 million for a fee of 50bp - on the $719 million facility for the Ras Laffan IWPP 2 (...
-
Kaeheawa Wind closes
-
Renewable Energy Systems (RES) Group's Astraeus portfolio financing, pushes at the boundaries of wind farm financing. The deal goes a step further than the Beaufort financing in late 2003, taking advantage of market conditions, by including construction projects within its fold. This, together w...