Invenergy Blog: July 17, 2017
Power Finance & Risk Recognizes Invenergy Industry Leadership
Last month, we were honored to take home three awards at the Power Finance & Risk 14th Annual Deal of the Year Awards Ceremony. An industrywide poll determined this year’s winners across 25 categories, identifying which market players were the most innovative and impressive in 2016. No other organization totaled three or more company and individual awards.
Our Finance Team was recognized as the stand-out Project Finance Borrower of 2016. The Finance Team worked with approximately 30 financing parties in 2016 to raise capital for 2.3 gigawatts of new generation assets located throughout the Americas.
On top of that, our own Meghan Schultz, SVP of Structured Finance, received industry honors under the Individual of the Year category as Sponsor Finance Official of 2016 and our Lackawanna Energy Center in Jessup, Pennsylvania received recognition as North America Conventional Power Project Finance Deal of 2016.
Meghan joined Invenergy in 2008 and during her career has managed the negotiation of more than $10 billion in investments and transactions. Meghan oversaw financing for all of Invenergy’s new generation projects in 2016 including for the 1,485 megawatt natural gas-fired Lackawanna project, which will be the second largest gas power plant in the country and one of the most efficient. Meghan is also a founding member of the Invenergy Women’s Network and an avid fan of the World Series Champion Chicago Cubs. Thanks Meghan for doing us proud!
In recognizing Lackawanna, Power Finance & Risk noted that the roughly $1 billion debt financing transaction for the project achieved a dry close in December, which was a difficult period amid post-election uncertainty in the U.S.. A voter also described the deal as a "complicated financing, drawing on multiple investor pools."
Lackawanna will generate significant economic benefits for the local community around Jessup, Pennsylvania: it will create 30 full-time jobs, more than 600 construction jobs, and millions of dollars in economic benefits over the project’s lifespan.
Congratulations to Meghan and our entire Finance Team who worked on Lackawanna and many other projects throughout the year to earn well-deserved recognition!
Meghan Schultz, Invenergy SVP of Structured Finance
Lackawanna Energy Center under construction in Jessup, PA.