NTE Energy Secures Investment for Three Natural Gas-Fired Generation Projects Totaling Up to 1,470 MW
July 22, 2014
Source: NTE Energy
ST. AUGUSTINE, Fla. – NTE Energy, a power developer and energy services provider, has secured an investment for its three natural gas-fired power plants that are currently under development. This investment will allow NTE Energy to complete the development of these projects, valued at over $1.1 billion, and begin construction of all three projects next year.
Capital Dynamics and Wattage Finance, LLC, which is owned by a group of private investors and managed by an affiliate of Guggenheim Partners, LLC, will work with NTE Energy to finalize the development and prepare the three projects for construction financing. Projects include Middletown Energy Center, a 518 MW combined cycle power plant in Ohio, Kings Mountain Energy Center, a 475 MW combined cycle power plant in North Carolina, and Pecan Creek Energy Center, a 237 MW simple cycle power plant in Texas. Whitehall Capital Markets, LLC, a FINRA-registered broker dealer and wholly-owned subsidiary of Whitehall & Company, LLC, served as the financial advisor for the project equity financing.
Seth Shortlidge, CEO of NTE Energy said, “As we take this next important step in the development of these projects, we are proud to work with industry leaders, Guggenheim Partners and Capital Dynamics. The depth and talent at both Guggenheim Partners and Capital Dynamics only strengthens NTE Energy’s ability to bring clean, reliable and efficient power to the market.”
NTE Energy’s three power projects are in the late stages of development and are expected to close financing and go into construction in the next nine to twelve months.
John Breckenridge, Managing Director of Capital Dynamics said, “We are very pleased to work with NTE Energy and Guggenheim Partners on the development of these natural gas-fired power generation facilities and look forward to a successful long term partnership as we continue to actively diversify our portfolio of clean energy projects.”
WHITEHALL NEWS | EVENTS | MONITORING THE MARKETS
News by date