Construction of solar photovoltaic power project in California to begin

LS Power said it completed financing and authorized the start of construction for the 170 MW capacity Centinela Solar photovoltaic Energy Project in California.

The financing was structured with two tranches: Combining a long-term institutional financing led by Prudential Capital Group and a shorter term bank financing led by Sovereign Bank N.A. and other joint lead arrangers, including Union Bank N.A., Rabobank Nederland, Canadian Imperial Bank of Commerce and NordLB.

Fluor Corp. (NYSE: FLR) was contracted to provide engineering, procurement and construction (EPC) services for the project and will also provide operation and maintenance services.

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