InterGen has successfully arranged US$ 563 million of non-recourse commercial bank senior debt financing for the construction and operation of the La Rosita project. BNP Paribas, Citibank Salomon Smith Barney and Export Development Canada are the joint lead arrangers under the project's Credit Agreements. ANZ Investment Bank, Bancomext, KBC and Societe Generale committed to the Facilities as Arrangers; Credit Lyonnais, Dexia, Fortis, Hypo und Vereinsbank and Nord LB committed to the Facilities as Co-Arrangers. La Rosita represents the largest financing as well as one of the most sizeable portions of bank uncovered debt yet seen on a Mexican power project.
"We are very enthusiastic to be moving forward with La Rosita. This project represents another significant step in strengthening our portfolio in Mexico," said Carlos Riva, President and CEO of InterGen.
In June of 2000, InterGen was awarded a contract to build, own and operate a 750 MW power project for Mexico's federal utility, the Comisión Federal de Electricidad (CFE). To help respond to the border region's energy needs by using infrastructure already under development at the La Rosita site, InterGen is expanding the project to a total capacity of approximately 1065 MW.
Bechtel Power is building the facility under a turnkey contract. La Rosita is expected to begin commercial operations by the first half of 2003. Natural gas for the project will be transported through a new, 212-mile pipeline extending from the California/Arizona border to Mexicali. InterGen has invested $20 million in the construction of a sewage treatment facility in Mexicali to purify local sewage water to cool the plant. InterGen subsidiaries will provide operations and energy management services to the project.
La Rosita will have a significant positive economic impact on the border area, creating approximately 60 permanent, full-time operations period jobs, as well as approximately 1,200 peak construction period jobs.
InterGen is a global power generation firm. The company is operating or building a total of 20 power stations representing 15,940 MW. It also has over 5000 additional MW of projects in active development. InterGen has projects operating, under construction or in active development in the United States, the United Kingdom, the Philippines, Colombia, Mexico, China, Egypt, Turkey, Brazil, Australia, the Netherlands, Spain and Singapore. InterGen is a Shell-Bechtel venture.
Intergen Completes Financing on 1065-Megawatt LA Rosita Energy Facility in New Mexico
Intergen Completes Financing on 1065-Megawatt LA Rosita Energy Facility in New Mexico
Key Contact
-
Corporate Media Contact
-
O:+1 713 235 2088Office contact number
-
M:+1 240 344 1173Mobile contact number
-
About Bechtel
Bechtel is a trusted engineering, construction and project management partner to industry and government. Differentiated by the quality of our people and our relentless drive to deliver the most successful outcomes, we align our capabilities to our customers’ objectives to create a lasting positive impact. Since 1898, we have helped customers complete more than 25,000 projects in 160 countries on all seven continents that have created jobs, grown economies, improved the resiliency of the world's infrastructure, increased access to energy, resources, and vital services, and made the world a safer, cleaner place.
Bechtel serves the Energy; Infrastructure; Manufacturing & Technology; Mining & Metals; and Nuclear, Security & Environmental markets. Our services span from initial planning and investment, through start-up and operations. www.bechtel.com
