GE will be anchoring a lending group for Invenergy LLC to finance construction of the 584-MW Nelson Energy Center in Illinois. The plant will also use GE’s 7F gas turbine technology and has signed a long-term maintenance services agreement with GE for the plant’s GE equipment.
GE Energy Financial Services served as the administrative agent, bookrunner and, through GE Capital Markets Inc., as primary lead arranger of the senior secured credit facilities. GE Energy Financial Services, ING Capital LLC and Siemens Financial Services Inc. are providing construction and term loans for the plant. The companies have not disclosed financial details.
Invenergy Development Co. LLC, a joint venture between an affiliate of Invenergy LLC and Stark Investments, is building the plant. The companies plan to begin commercial operations and sell power into the PJM wholesale market in early 2015. Invenergy Services LLC will operate and the plant.
The plant will also use two GE A10 steam turbines, which will be upgraded with GE’s Mark Vie software controls technology.
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