LS Power Completes Financing for Sandy Creek Energy Station
Riesel, Texas, November 1, 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:
Founded in 1990, LS Power is an employee-owned, independent power company with offices in New York, New Jersey, Missouri and California. LS Power is a developer, owner, operator and investor in power generation and electric transmission infrastructure throughout the United States.