Loader
 

LS Power Completes Financing for Sandy Creek Energy Station

LS Power Completes Financing for Sandy Creek Energy Station

November 01, 2013

Sandy Creek Energy Associates, LP closed on a $1,202 million credit facility comprising a $1,025 million term loan B, $102 million senior-secured tax-exempt L/C facility, and $75 million debt service reserve / working capital facility. The B loan will refinance existing debt that was put in place to fund the construction of the facility.

The Sandy Creek Energy Station (“SCES”) is a new highly efficient coal-fired power generation facility located in Riesel, Texas employing advanced emission controls. Sandy Creek Energy Associates, LP owns an undivided ownership in the facility, along with Lower Colorado River Authority and Brazos Sandy Creek Electric Cooperative, Inc. SCES, developed and managed by affiliates of LS Power Development, LLC, sells stable base load power into the ERCOT power market.

About LS Power:

Founded in 1990, LS Power is a premier development, investment, and operating company focused on the North American power and energy infrastructure sector, with leading platforms across generation, transmission and energy transition solutions. Since inception, LS Power has developed or acquired over 47,000 MW of power generation, including utility-scale solar, wind, hydro, battery energy storage, and natural gas-fired facilities. Through LS Power Grid, the firm has built and operates approximately 680 miles of high-voltage transmission and has another 200+ miles and multiple grid infrastructure projects currently under construction or development. Across its efforts, LS Power actively invests in and scales businesses that are accelerating the energy transition, including electric vehicle charging, demand response, microgrids, renewable fuels and waste-to-energy platforms. Over the years, LS Power has raised $53 billion in debt and equity capital to support North American infrastructure.