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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:

LS Power is a development, investment, and operating company focused on the North American power and energy infrastructure sector. Since its inception in 1990, LS Power has developed, constructed, managed, or acquired more than 46,000 MW of power generation, including utility-scale solar, wind, hydro, natural gas-fired, and battery energy storage projects, of which ~17,000 MW are currently operating. LS Power’s Energy Transition Platforms include CPower Energy Management, Endurant Energy, EVgo, Rise Light & Power, and REV Renewables, as well as Waste-to-Energy initiatives. In addition, LS Power developed and operates over 680 miles of high-voltage transmission, with an additional 100+ miles and multiple substations under construction. Across these efforts, LS Power has raised $50 billion in debt and equity financing to support North American infrastructure. Through 2021, assets under LS Power control avoided 80.67 million metric tons of CO2e, equivalent to nearly 187 million barrels of oil not consumed or over 17.5 million cars taken off the road for one year. For more information, please visit www.LSPower.com.