700 MW Longview Power coal-fired project for sale
The 700 MW Longview Power coal-fired project was launched for sale and buyers are now preparing first-round bids. The project is located near Maidsville in Monongalia County. The KKR Credit, Ascribe Capital, Third Avenue, and Centerbridge Partners, have owned the project since it exited bankruptcy in 2015. They decided to sell the facility after companies discussed to buy it. The project will be sold to a two-stage auction. The project was operational since 2011. The PJM Interconnection served as the power purchaser.
The project had a US$325 million senior secured term loan package from the investment bank. In 2017, sponsors tried to extend the maturity of the loan in return for the inclusion of capital into the project, but are understood not to have reached a deal with the lenders at that time. As part of the 2015 restructuring, the loan was arranged by Morgan Stanley.
Now, the project’s financial situation has recovered. Its debt has traded up from 85 to 90.
Country updates
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February 21, 2019
EDP Renewables secures construction approval for 125 MW wind farm in Ohio
The Ohio Power Siting Board (OPSB) finally authorized the construction of 125.1 MW Timber Road IV Wind Farm. The project is to be built near Payne, Ohio. The facility spans to 20,400 acres in Paulding...
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February 21, 2019
Longi to equip 224-MW US solar park with PERC modules
The largest “bifacial+tracker” power generation project in the United States will be built up in Mitchell County, Georgia, with a capacity of 224 MW, for which LONGi will supply bifacial P...
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February 21, 2019
AES Corp to deliver 100 MW energy storage project in Arizona
The AES Corporation has announced it was selected by Arizona Public Service to deliver a 100 megawatt 4-hour duration battery-based energy storage system. The project, owned and operated by AES, will...
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February 21, 2019
RFQ issued for biomass plant in Hanover
Dartmouth College of Hanover issued RFQ seeking a private partner to develop a new biomass plant and hot water heating system the Dartmouth College, Hanover. The plant, to be developed under PPP schem...
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February 19, 2019
Natixis Securities Americas LLC Appointed by US Wind Inc. as Sole and Exclusive Financial Advisor of Maryland Offshore Wind Project
Natixis Securities Americas LLC in conjunction with US Wind Inc., a leader in renewable energy development and infrastructure projects and subsidiary of Toto Holdings SpA., a privately owned construct...
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