Free press releases distribution network?

More news: Energy
Agency / Source: General Electric Company

Check Ads Availability|e-mail Article


Are you the owner of this article?, Turn it PREMIUM with your LOGO instead - and make it 3rd party Ads-Free! within the next hour!



GE Energy Financial Services Expands Gas-Fired Lending Portfolio with $73 Million for LS Power Merchant Plants - Bolstering its lending portfolio of natural gas-fired power plants, GE (NYSE: GE) unit GE Energy Financial Services announced it is providing $73 million for three merchant generating facilities owned by an affiliate of LS Power in IL and CT
GE Energy Financial Services Expands Gas-Fired Lending Portfolio with $73 Million for LS Power Merchant Plants

 

PRZOOM - /newswire/ - Stamford, CT, United States, 2011/06/13 - Bolstering its lending portfolio of natural gas-fired power plants, GE (NYSE: GE) unit GE Energy Financial Services announced it is providing $73 million for three merchant generating facilities owned by an affiliate of LS Power in IL and CT. NYSE: GE

   
 
Your Banner Ad Here instead - Showing along with ALL Articles covering Energy Announcements

Replace these Affiliate Programs at ANYTIME! Your banner here within the next hour. Learn How!


 

GE Energy Financial Services, serving as administrative and collateral agent, is providing a senior secured credit facility that includes a term loan and revolving credit facility for the three gas-fired plants, which operate as peakers and are grouped as LSP Park Generating, LLC. Two of the plants, the 540-megawatt University Park North Power Plant and 300-megawatt University Park South Power Plant, are located in University Park, Ill. The third peaker, the 225-megawatt Wallingford Power Plant, is in Wallingford, Conn. LS Power is using the credit facilities to recapitalize the three plants.

“This transaction with LS Power reflects our ability to understand and lend against the underlying value of assets, including uncontracted generating plants, in recovering power markets,” said Matt O’Connor, a managing director and leader of the Financial Institutions Group at GE Energy Financial Services. “We are able to analyze the near, medium and short-term power markets, then structure a transaction that enables us to lead-arrange and finance generating assets.”

GE Energy Financial Services and LS Power have been partners on prior debt and equity transactions. For example, in a separate transaction completed in April, GE Energy Financial Services served as lender and administrative agent for a $125 million senior secured credit facility that included a term loan and revolving credit facility for LS Power. LS Power is using those proceeds to recapitalize Port River Funding, LLC, which includes two gas-fired peaker plants: the 740-megawatt Renaissance Facility in Carson City, Mich. and the 925-megawatt Riverside Facility in Zelda, Ky. GE Energy Financial Services had served as co-lead arranger for Port River Funding in 2009.

GE Energy Financial Services’ natural gas power portfolio includes 75 transactions worth $6.3 billion, invested in plants with 72 gigawatts of capacity.

About GE Energy Financial Services
GE Energy Financial Services’ experts invest globally with a long-term view, backed by the best of GE’s technical know-how, financial strength and rigorous risk management, across the capital spectrum, in one of the world’s most capital-intensive industries, energy. GE Energy Financial Services (geenergyfinancialservices.com) helps its customers and GE grow through new investments, strong partnerships and optimization of its $21 billion in assets. GE Energy Financial Services is based in Stamford, Connecticut.

About GE
GE (ge.com) is an advanced technology, services and finance company taking on the world’s toughest challenges. Dedicated to innovation in energy, health, transportation and infrastructure, GE operates in more than 100 countries and employs about 300,000 people worldwide.

About LS Power
LS Power (LSPower.com) is a power generation and transmission group with a proven track record of successful development activities, operations management and commercial execution. LS Power has been involved in the development, construction, or operations of over 20,000 MW of power generation throughout the United States. LS Power is actively developing both power generation and transmission infrastructure to serve the need for new generation and improve the aging transmission system. LS Power has raised over $13 billion to support investment in energy infrastructure since 2005.

PRESS Contact
Andy Katell - GE Energy Financial Services, Senior Vice President, Communications
P: +1 203 961 5773 / E: andrew.katell[.]ge.com.

 
 
Your Banner Ad Here instead - Showing along with ALL Articles covering Energy Announcements

Replace these Affiliate Programs at ANYTIME! Your banner here within the next hour. Learn How!


 

Agency / Source: General Electric Company

 
 

Availability: All Regions (Including Int'l)

 

Traffic Booster: [/] Quick PRZOOM - Press & Newswire Visibility Checker

 

Distribution / Indexing: [+] / [Company listed above is a registered member of our network. Content made possible by PRZOOM / PRTODAY indexing services]

 
 
# # #
 
 
  Your Banner Ad showing on ALL
Energy articles,
CATCH Visitors via Your Competitors Announcements!


GE Energy Financial Services Expands Gas-Fired Lending Portfolio with $73 Million for LS Power Merchant Plants

Company website links NOT available to basic submissions
It is OK to republish and/or LINK any newswire for any legitimate media purpose as long as you name PRZOOM - Press & Newswire and LINK as the source.
 
  For more information, please visit:
Is this your article? Activate ALL web links by Upgrading to Press Release PREMIUM Plan Now!
GE News Center |
Contact: Christa Bowers - GE Energy Financial Services 
203-961-2934 christa.bowers[.]ge.com
 
PRZOOM / PRTODAY - Newswire Today disclaims any content contained in this article. If you need/wish to contact the company who published the current release, you will need to contact them - NOT us. Issuers of articles are solely responsible for the accuracy of their content. Our complete disclaimer appears here.
IMPORTANT INFORMATION: Issuance, publication or distribution of this press release in certain jurisdictions could be subject to restrictions. The recipient of this press release is responsible for using this press release and the information herein in accordance with the applicable rules and regulations in the particular jurisdiction. This press release does not constitute an offer or an offering to acquire or subscribe for any General Electric Company securities in any jurisdiction including any other companies listed or named in this release.

Energy via RSSAdd NewswireToday - PRZOOM Headline News to FeedBurner
Find who RetweetFollow @NewswireTODAY



Are you the owner of this article?, Turn it PREMIUM with your LOGO instead - and make it 3rd party Ads-Free! within the next hour!




Read Latest Press Releases From General Electric Company / Company Profile


Read Energy Most Recent Related Press Releases:

GE’s First Power Services Remote Monitoring and Diagnostics Center in Asia Pacific Enables Increased Performance through Analytics
Vestas Secures Order for 101 MW in the United States
PPG to Distribute Wastewater Substrate-repair Products from Sauereisen
Enel Begins Operations At World’s First Commercial Geothermal-hydro Hybrid Power Plant
Vestas Secures 112 MW for Three Projects in France
ENGIE and Statoil Agree on the Renegotiation of Their Long-term Gas Supply Contracts
ENGIE and AES Andres Leverage Core Strengths to Provide Reliable and Competitive LNG Supply in the Caribbean
Power Costs, Inc. (PCI) and GE Power Collaborate to Link Energy Operations with Energy Trading for End-to-End Machine to Market Software Solutions
GE Oil & Gas Signs Agreement with TAG GmbH to Install New Tuning Maintenance (TUMAS) Software on Entire Fleet of Gas Turbines
ENGIE Announces Two New Major Collaborations to Foster New Innovative Green Gas Production Methods Across Europe

Boost Your Social Network
& Crowdfunding Campaigns


LIFETIME SOCIAL MEDIA WALL
 
NewswireToday Celebrates 10 Years in Business
Find business coaching, life coaching, executive coaching and corporate coaching, best selling coaching books, ...



PREMIUM Members


Visit  BizJobs.com

Visit  JobsWare.com

Visit  La Bella Bakery Artisan Bakery Arizona







 
  ©2016 PRZOOM — Limelon Advertising, Co.
Home | About PRZOOM | Advertise/Pricing | Contact | Investors | Privacy/TOS | Sitemap | FRANCAIS
newswire, PR free press releases distribution service magazines engine news alert newsroom press room breaking news public relations articles company news alerts newswiredistribution ezine bizentrepreneur biznewstoday digital business report market search pr firms agencies reports distri-bution today investor relation successful internet entrepreneur newswire distribution prtoday.com freenewswiredistribution asianewstoday bizwiretoday USA pr UK today