3/19/2024 0 Comments Woodbridge township utilities![]() ![]() ![]() Lenders have shown some interest in the one gas-fired deal to come to market in the early part of 2013 Oakley gas-fired power project in California though this is a pure construction financing with no long-term operational risk.Ĭompetitive Power Ventures (CPV) is among the few independent power developers in the US with the clout to close a greenfield financing with merchant risk. Sluggish economic growth in the US has discouraged most utilities from signing new PPAs. Project banks would like to finance straightforward greenfield gas-fired plants that benefit from power purchase agreements (PPAs) with creditworthy utilities, but have few such opportunities. Latham & Watkins, Archer & Grenier, and Drinker Biddle & ReathĬhadbourne & Parke and Genova Burns Giantomasi & Weber GE Capital (primary lead arranger and bookrunner), CIT, Crédit Agricole, ING, Nord/LB, Union Bank Merchant deals are usually best suited to the term loan B market, which more readily accepts that risk than commercial banks but demands higher pricing.ħ00MW gas-fired combined-cycle power plant in Woodbridge Township, New JerseyĬompetitive Power Ventures (18.75%), ArcLight Capital Partners (50%), Toyota Tsusho (31.25%) The deals that have come to market since then have mostly supported projects with merchant exposure. Few US greenfield gas-fired projects have come to the bank market since a flurry of deals closed in the second quarter of 2011. ![]()
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