July 2005

Complete launches La Paloma 29 July 2005

WestLB and Morgan Stanley are finalising pricing on a $542 million financing backing Complete Energy's purchase of the La Paloma project. The deal is set to price on the week beginning 1 August, and close shortly afterwards. The deal finances the purchase of a 1000MW gas-fired combined cycle pow...

Modugno CCGT set for September close 29 July 2005

Close of financing for Energia's 760MW Modugno plant in Bari, Italy has been put back from 12 August to the first weeks of September to accommodate a busy Italian project schedule and the summer holidays. All financial documentation is drafted. The deal will weigh in at about the same size as ...

Rizziconi CCGT financing nears close 29 July 2005

 Financing for AGL's 800MW Rizziconi plant in Reggio Calabria, southern Italy, is scheduled to close at the end of October or the first two weeks of November. The mandated lead arrangers are RBS, MCC and institutional investor, MecFin. A club of about ten banks is likely after a limited syndicatio...

CES closes placement 28 July 2005

CES has closed a $50 million private placement that monetises dividends from some of its plant investments. The nine-year deal, led by WestLB priced on 26 July 2005. CES, or Continental Energy Services in full, owns stakes in Tenaska projects in Washington and Texas.

HSBC advising on Ras Abu Fontas B2 expansion 28 July 2005

HSBC has been appointed financial adviser by Qatar Electricity & Water Company (QEWC) for the B2 expansion project at Ras Abu Fontas. The fast-track project is expected to finance by early 2006 and be operating by April 2007. The project involves the installation of 500 MW and 20 million g/d of new ...

CLP Australia signed and sold 15 July 2005

The A$1.6 billion syndicated debt for the CLP Australia Finance A$2.45 billion acquisition loan has signed. The deal backs the acquisition by CLP Holdings of Singapore Power's merchant energy and retail business in Australia.

Calpine sells Grays Ferry plant 12 July 2005

Calpine has sold its 50% interest in the 175MW Grays Ferry Cogeneration Facility to an affiliate of Thermal North America Inc for $37.4 million. The sale also eliminates Calpine's 50% share of the plant's debt, representing a reduction of $21.6 million of Calpine's unconsolidated, non-recourse proje...

Colver Power to refinance 11 July 2005

Constellation Energy Group, Northern Star Generation and Inter-Power are preparing a $189 million refinancing of their Colver Power waste coal project. The three have engaged Goldman Sachs to run a senior and a subordinated bond issue, and Ambac to wrap the bonds. The issue has already gained a ...

Calpine makes CCFC tender 08 July 2005

Calpine Corporation has offered to pay down some of its CCFC debt with the proceeds of its asset sales. In June it agreed to sell four power plants, and one of them - Ontelaunee - is part of the CCFC generation company subsidiary. Calpine expects that the sale of the 584MW plant, located in Penn...

In with the in-box 01 July 2005

It's official – Eu16.799 billion on vital infrastructure projects between now and 2009. For the first time in three years the Portuguese government appears to be serious about infrastructure development and public-private-partnership (PPP). By Sean Keating

Power 01 July 2005

Neptune prices

Tenaga wins Shouaiba 01 July 2005

The Tenaga Nasional-led consortium (including Malakoff and ACWA Power with Doosan and Siemens as EPC contractors) has been confirmed as preferred bidder on the Shouaiba IWPP in Saudi after teams led by International Power and Tractebel dropped out of the running.