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October 2008
InterGen has completed the acquisition of two Mexican independent power projects from TransAlta.
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Conduit Capital has bought a 50% stake in Brazilian hydroelectric project developer GLEP Energias Renováveis e Participações.
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Temasek Holdings has delayed the privatisation of Power Seraya
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CIC Energy has appointed Rothschild as financial adviser to the Mmamabula integrated coal to power project in Botswana
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Emerging Africa Infrastructure Fund (EAIF) is to provide $49 million of debt to two power projects in Uganda
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The United States Department of Energy has extend the application period for renewable energy project loan guarantees
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JP Morgan has closed a Eu582.6 million ($771 million) securitization of Spanish power tariff deficits - the third to date.
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Joint mandated lead arrangers Unicredit (alos bookrunner) and Dexia (Slovenia) have closed a Sk5.6 billion ($228 million) for Slovak CCGT
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Brazilian generation company Geracao Paranapanema has closed a R341 million ($150 million) local bond issue.
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Pristine Power and ENMAX Corporation have closed a C$24.6 million ($19 million) financing for the 150 Mile House and Savona energy recovery generation projects.
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Tenaska Capital Management has bought the Covert generating plant from the MACH Gen power portfolio company.
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AES Gener has closed the $988 million debt financing for the Angamos coal-fired power project in Chile.
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The Eu440 million project financing of the 410MW T-Power CCGT scheme in Flanders Belgium should be closed by a club of ten banks by mid November.
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The financings for the EIF-sponsored Hudson transmission and Astoria Energy II are set to come to market in early 2009.
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The $600 million Theun Hinboun dual-currency project loan signed on 8 October. The deal backs the expansion to 500MW of Theun Hinboun Power Company
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SBI is in the market with a Rp35 billion ($704 million) local bank portion of the debt package backing Reliance's 3,960MW coal-fired Sasan UMPP.
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GenConn, a joint venture between NRG energy and United Illuminating, hopes to fund its two Connecticut peaking power projects with a 30-year private debt placement.
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The banks backing the preferred bidding consortium - comprising Sumitomo, Malakoff International and Al Jomaih Automotive - on the $5.5 billion Ras Al Zour independent water and power project (IWPP) are looking to
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Oman Power & Water Procurement Company has received four bids to provide advisory services on two planned independent water and power projects (IWPPs)
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Eskom has prequalified 27 developers for its multisite base-load independent power producer (IPP) programme - a series of build-own-operate (BOO)
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Ghanaian power developer GECAD (General Electrical Center for African Distribution) has lined up $96 million in debt financing for its Osonor power project.
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First Gas Power (owned 60/40 by First Gen Corp and BG Energy) launched syndication of its $668.7 million A and B loan facility for the 1000MW Santa Rita CCGT
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Bookrunners KfW, Standard Chartered and SMBC have brought in six other banks for the $750 million financing of Gheco-One's 660MW coal-fired power project
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Norwegian company, Norpak Power, has withdrawn from developing the proposed 200MW Karuma hydro plant in Uganda
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US-based CPS Energy has delayed a $319 million bond issue due to the state of the financial markets
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The Eu114.2 million ($153 million) debt financing for the 88.8MW Rabai power project in Kenya closed on 8 October - the first power project financing in Kenya since Kipevu 2 in 2000
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UniStar Nuclear Energy - a joint venture between Constellation Energy and EdF - has mandated Credit Suisse and SG to advise on financing its $4-5 billion 1.6 GW Unit 3 nuclear
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The A$216 million ($142.9 million) dual-tranche debt package for Hallett Hill 2, an SPV for the 71MW Hallett 2 wind farm project
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The Connecticut Department of Public Utility Control has awarded a 200MW peaking power contract to GenConn.
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Atel reached financial close on its 408MW EnPlus CCGT project in San Severo, near Foggia in Puglia, on 26 September 2008
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The German Federal Ministry for Economic Cooperation and Development says that the export credit agencies backing the Ilisu dam's construction may issue a notice of environmental failure
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The S$2.9 billion ($1.97 billion) bridge loan for Singapore's Senoko Power is out to the syndication market, despite the loan market being crippled by lack of liquidity and spiralling interbank rates
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Austrian utilities Verbund and EVN have signed a 35-year concession for the Ashta hydro-electric power project
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The £11 billion (£19 billion) syndicated loan backing 85% state-owned EdF's £12.5 billion buyout of British Energy has been launched to senior syndication
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Four Benelux power deals are in the bank market at the moment
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Tyr Energy, BayCorp, and Energy Management Inc have formed a new venture, called American Renewables
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Eqyptian steel producer Ezz Steel has issued an invitation to pre-qualify for a 320MW power project project.
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Calpine Corporation has drawn down $725 million of the $1 billion senior secured revolver it closed after it emerged from bankruptcy.
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The B loan financing for the acquisition of the Wolf Hollow power plant is in danger of technical default following a series of outages at the facility
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Nevada Geothermal closed a $180 million long-term construction loan for its Blue Mountain I geothermal project with TCW on 4 September. The financing carried a hefty 14% interest rate, and indicates the difficulties that geothermal developers face in syndicating their debt to inexperienced banks in ...
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The bankruptcy of Lehman Brothers now looks like an insubstantial starter before the frozen main course of the broken bank lending market. But its collapse provided an indication of what might happen if larger and more active peers in the energy market had failed, and generated considerable uncertai...
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Authorisation for the 408MW EnPlus CCGT project in San Severo, near Foggia in Puglia, was first sought in 2002 – but it took until the deal was in the teeth of the worst credit crisis for over half a century for it to eventually reach financial close on 26 September 2008.
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Local and specialist developers have quietly filled the vacuum that US developers left in the African power sector. But even before the crunch the market was heavily reliant for debt – and equity – on development banks such as FMO. By Robin Sayles.
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US regulators have struggled for years to develop a system that adequately encouraged new capacity additions. But the fruits of their efforts have so far been disappointing. By Richard Garcia, Natixis.
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Expected to be the first of India's Ultra Mega Power project (UMPP) financings to reach financial close, the Mundra financing will be the benchmark for future UMPP deals in a very difficult lending market. By Santosh Janakiram, Partner, Amarchand Mangaldas, Mumbai.
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Reliant Energy plans a number of changes to its capital structure in the wake of market uncertainty and the impact of Hurrican Ike on its operations
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Indonesia's raft of power projects are caught up in the global financial crisis, and are facing higher debt pricing and a retreat by some international lenders. But the Indonesian government is determined to press ahead. By Michael Marray
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Brazil's MPX has plans for an ambitious slate of coal-fired power projects in Brazil and Chile. Has it made the right bet on fuel prices, and will lenders respond positively? Tom Nelthorpe talks to CFO Rudolph Ihns.