May 16, 2007
Invenergy Completes Project Financing for 620 MW Grays Harbor Energy Center
CHICAGO – May 16, 2007 -- Invenergy LLC announced today that it has completed project financing for the 620 MW Grays Harbor natural gas-fueled facility located in Washington. The $216,500,000 financing was completed with the Royal Bank of Scotland as the lead arranger and underwriter.
Invenergy acquired the partially constructed facility from Duke Energy North America in early 2005 after construction was 50% complete and deferred by Duke almost two years earlier. Invenergy restarted construction on the Grays Harbor Energy Center in January 2007 with commercial operation expected in early 2008.
The Facility consists of two gas-fired General Electric Frame 7FA combustion turbines and one GE steam turbine generator operating in combined cycle mode with duct firing. The Grays Harbor Energy Center is located on 22 acres in Grays Harbor County, Washington, approximately 40 miles west of Olympia, Washington, and 100 miles southwest of Seattle. The site can accommodate additional expansions to meet additional power needs in the region.
About Invenergy LLC
Invenergy LLC is a developer, owner and operator of utility-scale electricity generating facilities including natural gas-fired and wind energy projects. The company has comprehensive expertise in the development, financing, construction, operation and management of power generation projects serving a wide range of utilities, load serving entities and energy trading companies. The members of Invenergy’s senior management team have extensive experience in diverse areas of the energy market and a track record of resounding success at Invenergy and in their prior business entities.
Invenergy has a portfolio of natural gas-fired and wind energy electricity generation projects in various stages of operation, construction and development in the US, Canada and Europe. Invenergy currently has 670 MW of natural gas projects in operation with a further 1,540 MW currently in construction. On the wind energy side, Invenergy has 686 MW in operation and a further 320 MW currently in construction.
Invenergy is headquartered in Chicago and has professional staff located in its North American offices in Denver, Washington D.C, Toronto, Milwaukee, Tampa, and Austin, Texas. Overseas offices are located in London (UK), Warsaw (Poland) and Athens (Greece).
For more information visit www.invenergyllc.com
Contact: Jim Murphy 312.224.1400