NTE Energy Closes Financing for its Second 475 MW Project
NTE Energy, a power developer and energy services provider, announced today that its affiliate NTE Carolinas, LLC (“NTE”), has successfully closed on project financing for construction and operation of its Kings Mountain Energy Center, located in Cleveland County, North Carolina. Financing for the facility includes a group of 9 financial institutions, led by ING Capital LLC and MUFG Union Bank, N.A, providing $387 million in various senior secured credit facilities and Capital Dynamics and Wattage Finance-NC, LLC providing $218 million in equity commitments.
The Kings Mountain Energy Center will be a state-of-the-art 475 MW natural gas-fired electric generating facility that will sell capacity to nine municipal and state owned utilities in North Carolina and South Carolina, under individual Long - Term Power Sale Agreements.
Gemma Power Systems, LLC will build the facility under an Engineering, Procurement and Construction Services contract and NTE Energy Services Company, LLC will be the construction and asset manager. The facility will be one of the most efficient and clean sources of capacity and energy in the region, employing Mitsubishi’s GAC turbine technology in a combined-cycle configuration. The facility will be a large asset to the community’s economy by providing approximately 300-400 jobs during construction, and 25-30 full-time positions during operation in 2018.
“The project’s successful financing showcases the accomplishments of our team and partners, as well as the public private partnership with the City of Kings Mountain and numerous municipal and state entities in the Carolinas who will be served by the project,” said Seth Shortlidge, CEO of NTE Energy. “NTE is excited to work with this group of lenders and industry leaders on the financing and construction the Kings Mountain Energy Center.”
“Capital Dynamics is extremely pleased to have successfully partnered with NTE and Guggenheim again to bring this important project to fruition. This project is an example of the kind of critical clean power infrastructure projects that our team brings from development to completion,” said John Breckenridge, Managing Director at Capital Dynamics. “We also congratulate the local communities that have supported this project for enabling a low cost, clean and reliable source of power for their citizens for many years to come.”
ING Capital LLC (Syndication Agent) and MUFG Union Bank, N.A. (Administrative Agent), acted as the Coordinating Lead Arrangers in developing syndication of 9 total institutions to finance the project. Nixon Peabody and Pierce Atwood served as NTE’s project counsel.
NTE closed financing and began construction on its Middletown Energy Center, located in Butler County, Ohio, in October 2015.
About NTE Energy
NTE Energy, through its affiliates, develops and acquires strategically located electric generation and transmission facilities within North America. The team executes all aspects of project development, from initial market and site evaluations and permitting to financing, construction and operation. NTE Energy, through its affiliates, is actively developing projects located in West Texas, Ohio, and North Carolina as well as pursuing early-stage opportunities in several other locations. For more information about NTE Energy, visit www.nteenergy.com
About Wattage Finance-NC, LLC
Wattage Finance-NC, LLC is owned by a group of private investors and advised by Guggenheim Partners Investment Management, LLC.
About Capital Dynamics
Capital Dynamics is an independent, global asset manager, investing in private equity and clean energy infrastructure. A client-focused firm, Capital Dynamics tailors solutions to meet investor requirements and manages investments through a broad range of products and opportunities including separate account solutions, investment funds and structured private equity products. Capital Dynamics currently has over USD 21 billion in assets under management, advisement and administration. Capital Dynamics believes its experience and culture of innovation give it superior insight and help it to deliver returns for its clients. Capital Dynamics invests locally while operating globally from offices in London, New York, Zug, Tokyo, Hong Kong, Silicon Valley, Munich, Birmingham, Seoul, and Scottsdale. For more information about Capital Dynamics, visit www.capdyn.com
About Capital Dynamics’ Clean Energy and Infrastructure team
Capital Dynamics’ CEI team holds extensive expertise in investing, financing, owning and operating conventional and clean energy businesses globally. Established to capture attractive investment opportunities in this class of real assets, Capital Dynamics’ CEI mandate is to invest directly in proven clean energy technologies – such as solar, wind, biomass, conventional gas generation and waste gas fueled power generation – across the globe. Since the establishment of Capital Dynamics’ CEI business, the CEI team has acquired, built and now manages more than 2,000 MW of clean energy capacity in North America, Europe and Australia.
NTE Energy, LLC
Hannah Jacob, 904-687-1857 Office
Om Business Wire
Business Wire, a Berkshire Hathaway company, is the global leader in multiplatform press release distribution.
Følg saker fra Business Wire
Registrer deg med din epostadresse under for å få de nyeste sakene fra Business Wire på epost fortløpende. Du kan melde deg av når som helst.
Siste saker fra Business Wire
SES Networks Works with Project Loon to Restore Connectivity in Puerto Rico23.10.2017 17:14 | Pressemelding
SES Networks' high throughput and fibre-like satellite connectivity service, the stratospheric balloons operated by X, Alphabet’s self-described “moonshot factory”, and local telecommunications expertise are playing a key role in restoring 4G/LTE connectivity in disaster-affected Puerto Rico, SES announced today. This press release features multimedia. View the full release here: http://www.businesswire.com/news/home/20171023006165/en/ SES Networks Works with Project Loon to Restore Connectivity in Puerto Rico (Photo: Business Wire) The connectivity is powered by Project Loon's targeted cell coverage and SES Networks' O3b FastConnect, a rapidly deployable satellite terminal delivering fibre-like performance. Together with local technology partners, SES Networks and X are providing reliable high-performance connectivity to Puerto Ricans whose lives have been dev
Sagemcom Unveils the Next-Generation Multi-Gigabit Solutions23.10.2017 16:05 | Pressemelding
AFTER THE SUCCESS OF ITS ONE GIGABIT GATEWAY RANGE, SAGEMCOM RELEASES TO THE OPERATORS THE NEXT GENERATION MULTI-GIGABIT GATEWAYS – VDSL 35B / G.FAST / PON, 2.5G/10G PON, DOCSIS 3.1 – INTEGRATING HIGH EFFICIENCY 802.11AX Wi-Fi, IN ADDITION TO NEW SMART HOME CONNECTIVITY SOLUTIONS INCLUDING DISTRIBUTED WI-FI, VOICE CONTROL AND HOME AUTOMATION. The VDSL 35B / G.fast / FTTH / PON universal gateway, F@st 5380, integrates G.fast 212MHz, GPON and 802.11ax Wi-Fi, enabling the operators to deliver Multi-Gigabit end-to-end services, and to meet the growing bandwidth required by the end-users. F@st 5380 benefits from the last innovations of the in-house field proven Sagemcom SWANTM software suite including big data, Wi-Fi distribution, smart diagnostics… The next generation Fiber gateways range includes two products: F@st 5688ax for 10G PON (XGS-PON
Moody’s Analytics Launches the CreditLens™ Platform23.10.2017 15:43 | Pressemelding
Moody’s Analytics has launched the CreditLens platform, our next-generation credit origination and risk monitoring solution. This new platform offers flexibility, configurability, and efficiency to lending institutions striving to establish smarter and leaner loan origination practices. The CreditLens platform reduces time-to-decision while tapping into powerful models and insightful analytics that help lenders manage risk and drive productivity. Lenders gain efficiency from the solution’s automated spreading capability and a flexible model authoring module. They also gain deep insights from built-in Moody’s Analytics Risk Grading features and Business Insights dashboards, which provide a complete view of the lender’s credit relationships. Automation in the platform also reduces errors and preserves data lineage throughout the credit assessment and origination process.
Knopp Biosciences Announces Renewal of NIH Blueprint Grant Award for Advancing KCNQ2 Modulators in Epilepsy23.10.2017 15:11 | Pressemelding
Knopp Biosciences LLC today announced the renewal and expansion of its grant award from the National Institutes of Health Blueprint Neurotherapeutics Network to advance novel treatments for epilepsy. The Phase 2 award under the NIH Small Business Innovation Research (SBIR) program anticipates NIH support of up to $2 million over the next three years of the project, subject to satisfactory completion of milestones. The renewal follows the successful completion of all milestones under a previously awarded Phase 1 grant of $400,000. Knopp is directing its potassium channel activator program to preclinical and clinical development of small-molecule drug candidates against a validated, anti-seizure pharmaceutical target encoded by the KCNQ2 gene. Knopp intends to advance novel, small-molecule KCNQ2 activators in neonatal epileptic encephalopathy, a rare disorder caused by inherit
HCL Technologies Powers Volvo Ocean Race 2017-1823.10.2017 13:02 | Pressemelding
The 2017-18 edition of the Volvo Ocean Race was flagged off at Alicante, Spain, with HCL Technologies as the strategic IT services provider. The leading global IT services company has provided end-to-end infrastructure support as well as connectivity between the Race Village and the Command Centre in Alicante further connecting them to 12 Host Cities on the race route globally. The world's longest and toughest professional sporting event began at Alicante and will finish eight months later at The Hague. At the flag-off, Jordi Neves, Chief Digital Officer, Volvo Ocean Race, said: “Over four decades, Volvo Ocean Race has drawn some of the greatest ever sailors. This edition of the race will be more digitally focused than before, with HCL as the strategic IT services provider. This edition is also special for us as we embark on a major Sustainability Program in partnership wi
CES Unveiled Paris Returns Tomorrow for Fifth Year with 70+ Exhibitors23.10.2017 13:00 | Pressemelding
Consumer Technology Association (CTA): WHAT: CES Unveiled Paris returns to Paris tomorrow, for its fifth consecutive year, hosting more than 70 exhibitors. More than 600 attendees are expected at the event which will unite French tech startups, top media, buyers and industry influencers around the latest tech innovation and provide a preview of CES® 2018. Schedule as follows:
I vårt presserom finner du alle våre siste saker, kontaktpersoner, bilder, dokumenter og annen relevant informasjon om oss.Besøk vårt presserom