Axium closes refinancing of 286 MW cogeneration project in US

Subscribe to our newsletter and get the latest news and business opportunities in your inbox

Axium Infrastructure has closed a multi-tranche refinancing of the senior debt associated with the 286 MW Brooklyn Navy Yard Cogeneration dual-fuel project in New York, which it acquired from Ares on 2018.

Winston & Strawn represented Brooklyn Navy Yard Cogeneration Partners, L.P. (BNYCP) in connection with the issuance of US$322,512,400 of senior secured notes privately placed with institutional investors, a US$30 million letter of credit facility provided by Santander Bank, N.A., and a US$82,125,000 subordinated loan from Build NYC Resource Corporation made from the proceeds of tax-exempt refunding revenue bonds issued by Build NYC and initially purchased by Barclays Capital, Inc. The transaction closed on February 14, 2019.

BNYCP owns the Brooklyn Navy Yard Cogeneration Facility, a 286 MW dual fuel power plant that provides steam and electricity under long-term offtake agreements with the Consolidated Edison Company of New York (ConEd) and the Brooklyn Navy Yard Development Corporation.

List of the country updates

Country updates

  • May 28, 2019

    US approves RWE's acquisition of E.on's renewable energy business

    The US Federal Trade Commission (FTC) has approved the acquisition of the renewables operations of North Amercian E.ON by German RWE. The transaction with E.ON will involve RWE acquiring the renewabl...

    Read more
  • May 27, 2019

    Buckeye Partners agrees to be acquired by IFM Investors for US$41.50 per common unit

    FM Investors and Buckeye Partners, L.P. has announced a definitive agreement under which the IFM Global Infrastructure Fund will acquire all of the outstanding public common units of Buckeye...

    Read more
  • May 27, 2019

    Church Pension Fund to invest in clean energy

    The financial services organization that serves the US-based Episcopal Church, Church Pension Fund (CPF), has invested US$40 million to clean energy projects.  CPF has invested in ...

    Read more
  • May 27, 2019

    SDCL enters agreement to acquire US CHP portfolio

    SDCL Energy Efficiency Income Trust plc, managed by Sustainable Development Capital LLP, is pleased to announce the acquisition of a 71% interest in a high-quality Combined Heat and Power portfol...

    Read more
  • May 24, 2019

    Siemens Gamesa to equip 232 MW wind project in US

    Siemens Gamesa Renewable Energy has been awarded another order by EDF Renewables to supply 30 SG 4.5-145 and 36 SG 2.7-129 wind turbines for the 232 MW Milligan wind project, located in Milligan Count...

    Read more

Share this update