NTE Energy Closes Financing on 475-MW North Carolina Gas Plant

 NTE Energy Closes Financing on 475-MW North Carolina Gas Plant

NTE Energy affiliate NTE Carolinas LLC (NTE) has closed on project financing for the 475-MW Kings Mountain Energy Center in Cleveland County, North Carolina.

Nine financial institutions, including ING Capital LLC and MUFG Union Bank, N.A., are providing $387 million in various senior secured credit facilities.  Another $218 million in equity commitments are coming from Capital Dynamics and Wattage Finance-NC LLC.

The natural gas-fired facility will sell its capacity to nine municipal and state-owned utilities in North and South Carolina.

Gemma Power Systems LLC was awarded a contract for engineering, procurement and construction services while NTE Energy Services Company LLC serves as the construction and asset manager.

The plant will feature Mitsubishi GAC turbine technology in a combined-cycle configuration.

The project is expected to reach operation in 2018.

Did You Like this Article? Get All the Energy Industry News Delivered to Your Inbox

Subscribe to an email newsletter today at no cost and receive the latest news and information.

 Subscribe Now


The Time is Right for Optimum Reliability: Capital-Intensive Industries and Asset Performance Management

Imagine a plant that is no longer at risk of a random shutdown. Imagine not worrying about losing...

Going Digital: The New Normal in Oil & Gas

In this whitepaper you will learn how Keystone Engineering, ONGC, and Saipem are using software t...

Maximizing Operational Excellence

In a recent survey conducted by PennEnergy Research, 70% of surveyed energy industry professional...

Leveraging the Power of Information in the Energy Industry

Information Governance is about more than compliance. It’s about using your information to drive ...