BURLINGTON, Massachusetts, December 12 /PRNewswire/ --
InterGen announced today the financial close and funding of credit facilities for its 428 MW natural gas-fired Rijnmond II project in Rotterdam. With an estimated cost of approximately euro 480 million (US$700 million), the Rijnmond II project will complement InterGen's existing 820 MW Rijnmond Energie project which commenced operations in 2004.
InterGen has appointed HSBC Bank plc as Mandated Lead Arranger and Sole Underwriter for the approximately euro 400 million (US$590 million) non-recourse financing that consists of a euro 335 million (US$490 million) long-term senior debt facility as well as working capital, swap and LC facilities.
"We are very pleased to have completed this financing. This project represents another significant step in strengthening our portfolio in the Netherlands," said Neil H. Smith President & CEO of InterGen.
Rijnmond II has a 20-year tolling contract with Oxxio (wholly owned by Centrica PLC of the UK) which will purchase the Rijnmond II electrical output and supply its gas. The project has also signed a contract with Siemens AG for the engineering, procurement and construction (EPC) of the plant. Construction is scheduled to be completed in June of 2010.
BURLINGTON, Massachusetts, December 12 /PRNewswire/ --
InterGen is a global power generation firm with 9 power plants representing an equity share of 5,235 MW of production capacity. InterGen plants and development projects are located in the UK, the Netherlands, Mexico, the Philippines, Australia and Singapore. InterGen is jointly owned by the Ontario Teachers' Pension Plan and AIG Highstar Capital II, L.P. For more information on InterGen, visit www.intergen.com. This press release may contain forward-looking statements that are not based on historical fact, including, without limitation, statements containing the words "expects," "anticipates," "intends," "plans," "believes," "seeks," "estimates" and similar expressions. InterGen is including this statement for the express purpose of availing itself of the protections of the safe harbor provided by the United States of America's Private Securities Litigation Reform Act of 1995 with respect to all such forward-looking statements. These forward-looking statements are based on currently available information and represent the beliefs of the management of the company. Because these forward-looking statements involve known and unknown risks and uncertainties, there are important factors that could cause actual results, events or developments to differ materially from those expressed or implied by these forward-looking statements.
Contact: Corbie Kiernan +1-781-993-3172
Web site: http://www.intergen.com
Corbie Kiernan of InterGen, +1-781-993-3172
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