Shearman & Sterling Advises on $1.2 Billion Financing for LS Power Calpine Energy Asset Acquisition

Subscribe to our newsletter and get the latest news and business opportunities in your inbox
Shearman & Sterling Advises on $1.2 Billion Financing for LS Power Calpine Energy Asset Acquisition

Shearman & Sterling advised BNP Paribas as syndication coordinator in connection with the US$1.2 billion financing for LS Power’s asset acquisition of approximately 2,430 MW of generation resources in the Southeastern United States, through its affiliate NATGEN Southeast Power, LLC, from Calpine Corporation.

The financings included three separate credit facilities:

  • US$737 million facility for Oneta Power LLC with BNP Paribas as administrative agent,
  • US$306 million facility for Decatur Energy Center, LLC with Union Bank, N.A., as administrative agent, and
  • US$180 million facility for Carville Energy, LLC with ING Capital LLC as administrative agent.

The Shearman & Sterling team included partner Patricia G. Hammes (New York-Project Development & Finance) and associates Monica Lamb (New York-Project Development & Finance), Bejide Davis (New York-Corporate) and Joshua Rivera (New York-Project Development & Finance).

In late April we reported that LS Power Equity Advisors, LLC, announced on 21 April 2014, that it had signed an agreement to acquire approximately 3,500 MW of generation resources in the Southeastern United States, through its affiliate NATGEN Southeast Power from Calpine Corporation. At that time the portfolio consisted of six combined-cycle generation facilities which use natural gas as the primary fuel source. The Calpine facilities included the following:

  • Carville Energy Center, St. Gabriel, LA (financial closed)
  • Hog Bayou Energy Center, Mobile, AL
  • Columbia Energy Center, Calhoun County, SC
  • Oneta Energy Center, Coweta, OK (financial closed)
  • Decatur Energy Center, Decatur, AL (financial closed)
  • Santa Rosa Energy Center, Pace, FL
List of country news

Country news

  • July 31, 2014

    Kayne Anderson Midstream/Energy Fund enters into $50m unsecured bank facility

    Kayne Anderson Midstream/Energy Fund, Inc. announced last week that it has entered into a $50 million unsecured revolving credit agreement with Sumitomo Mitsui Banking Corporation. Read more
  • August 01, 2014

    Financing close for $7.5 billion Cameron LNG Project

    The Cameron LNG project has secured a US$7.5 billion loan to develop the facilities to ship about 12 million tons of liquefied natural gas per year from Louisiana (USA) to Japan. Read more
  • August 05, 2014

    Duke Energy to purchase NCEMPA generation assets

    Duke Energy Progress and the North Carolina Eastern Municipal Power Agency (NCEMPA) announced that both companies’ boards of directors have approved an agreement for Duke Energy Progress to purchase the Power Agency’s ownership. Read more
  • August 05, 2014

    Energy Capital Partners acquires Wheelebrator Technologies

    Waste Management, Inc. has agreed to sell Wheelabrator Technologies Inc. (WTI) to an affiliate of Energy Capital Partners (ECP) for $1.94 billion in cash. Read more
  • August 05, 2014

    NTE Energy Appoints New Chief Financial Officer

    Power developer and energy services provider NTE Energy has appointed energy industry veteran Josh Levine as chief financial officer. Read more

Share this news

Join us

In order to get full access to News section, you must have a full subscription. You can check all the benefits of becoming a member and purchase a subscription on our membership page.