PRZOOM - /newswire/ -
Chicago, IL, United States, 2013/12/12 - Invenergy Development Company, LLC announced that it has arranged construction and term loan financing for its 584 MW Nelson Energy Center (“Nelson”), a natural gas-fired power generation plant under construction approximately 120 miles west of Chicago.
The financing included construction and term loans with GE Energy Financial Services, ING Capital LLC, and Siemens Financial Services, Inc. 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. ING Capital LLC served as joint lead arranger and documentation agent.
Nelson is located in the city of Rock Falls, in Lee County, Illinois. Commercial operations are scheduled to begin in early 2015, with output to be sold into the PJM wholesale market.
Invenergy Development Company LLC is a joint venture between Invenergy Thermal LLC, an affiliate of Invenergy LLC (“Invenergy”), and Stark Investments, a global alternative investment firm. Nelson will be operated and maintained by Invenergy Services LLC, also an affiliate of Invenergy.
“We’re pleased to complete project financing for our newest clean energy generation facility, located in our home state of Illinois,” said Jim Murphy, Chief Financial Officer for Chicago-based Invenergy. “With the addition of Nelson, Invenergy’s operating portfolio of gas-fired generating power plants will total more than 2,800 MW of capacity.”
Invenergy (invenergyllc.com) and its affiliated companies develop, own and operate large-scale renewable and other clean energy generation facilities in North America and Europe. Invenergy is committed to clean power alternatives and continued innovation in electricity generation. Invenergy's home office is located in Chicago and it has regional development offices throughout the United States and in Canada and Europe.
Invenergy and its affiliated companies have developed approximately 8,000 MW of clean energy projects that are in operation, in construction, or under contract, including 63 wind, solar, and natural gas power facilities.