PRTODAY / NewswireToday Free press release distribution service network

More news: Energy
Written by / Agency / Source: General Electric Company

Check Ads Availability|e-mail Article


Are you the owner of this article?, Turn it PREMIUM with your LOGO instead - and make it 3rd party Ads-Free! within the next hour!

GE Unit Provides $50 Million Loan for Illinois Power Plant - GE unit GE Energy Financial Services is providing a loan to investment firm Rockland Capital, LLC to support its acquisition of the gas-fired Elgin Energy Center in Illinois - RocklandCapital.com / GEEnergyFinancialServices.com
GE Unit Provides $50 Million Loan for Illinois Power Plant

 

NewswireToday - /newswire/ - Las Vegas, NV, United States, 2014/04/08 - GE unit GE Energy Financial Services is providing a loan to investment firm Rockland Capital, LLC to support its acquisition of the gas-fired Elgin Energy Center in Illinois - RocklandCapital.com / GEEnergyFinancialServices.com. NYSE: GE

   
 
Your Banner Ad Here instead - Showing along with ALL Articles covering Energy Announcements

Replace these Affiliate Programs at ANYTIME! Your banner here within the next hour. Learn How!


 

The deal was announced today at the 29th Annual Platt’s Global Power Markets Conference in Las Vegas where GE Energy Financial Services serves as an Executive Sponsor. Rockland Capital purchased the power generation facility, which sits on a 27-acre site 40 miles northwest of Chicago, as part of a larger acquisition earlier this year. GE Energy Financial Services is providing a $50 million senior secured term loan that will be used in part to finance the Elgin acquisition and pay related fees and expenses. Further details of the transaction were not disclosed.

The 484-megawatt Elgin peaking power plant, which sells its capacity into the PJM market, began operating in 2002 with four simple-cycle natural gas-fired turbines. Its operations and maintenance are provided by ProEnergy Services with additional energy management services by Tenaska Power Services.

Carl Peterson, Managing Director and Debt Origination leader at GE Energy Financial Services, said,“The Elgin investment marks our first opportunity to serve Rockland Capital as a lead lender, and underscores GE’s ability to lead both contracted and merchant power transactions.”

Shane Litts, Partner at Rockland Capital, added,“We partner with key industry players like GE to free up capital for other projects and focus on asset optimization.”

GE Energy Financial Services holds equity and debt investments in power projects with a combined capacity of 30 gigawatts, equivalent to the installed generating capacity of Norway. Recent power lead arranging transactions include the Saguaro Power Plant in Nevada and Nelson Energy Center in Illinois. The GE unit offers flexible financial structures ranging from common and preferred equity to debt and acquisition finance.

The Elgin Energy Center is part of a 1,166 MW portfolio of three Illinois power plants that Rockland Capital acquired from Ameren Corporation in January. The transaction was the first acquisition for Rockland Power Partners II, a $425 million investment fund closed in December 2013.

About GE Energy Financial Services
GE Energy Financial Services GE’s energy investing business (geenergyfinancialservices.com) works as a builder, not just a banker, to help meet the world’s power and fuel needs. We offer more than money expertise for essential, long-lived and capital-intensive power, oil and gas infrastructure GE’s core business. Drawing on GE’s energy technical know-how, financial strength and risk management, we see value where others don’t and take on our customers’ toughest challenges with flexible equity and debt transaction structures. Based in Stamford, Connecticut, GE Energy Financial Services holds approximately $16 billion in assets.

About GE
GE (ge.com) works on things that matter. The best people and the best technologies taking on the toughest challenges. Finding solutions in energy, health and home, transportation and finance. Building, powering, moving and curing the world. Not just imagining. Doing. GE works.

About Rockland Capital
Rockland Capital (rocklandcapital.com), a private equity firm founded in 2003, is focused on the acquisition, optimization and development of companies and projects in the North American power sector. The firm manages Rockland Power Partners II, Rockland Power Partners and Rockland Capital Energy Investments and has offices in Houston and New York. For further information visit .

 
 
Your Banner Ad Here instead - Showing along with ALL Articles covering Energy Announcements

Replace these Affiliate Programs at ANYTIME! Your banner here within the next hour. Learn How!


 

Written by / Agency / Source: General Electric Company

 
 

Availability: All Regions (Including Int'l)

 

Traffic Booster: [/] Quick Newswire Today Visibility Checker

 

Distribution / Indexing: [+] / [Company listed above is a registered member of our network. Content made possible by PRZOOM / PRTODAY indexing services]

 
 
# # #
 
 
  Your Banner Ad showing on ALL
Energy articles,
CATCH Visitors via Your Competitors Announcements!


GE Unit Provides $50 Million Loan for Illinois Power Plant

Company website links NOT available to basic submissions
It is OK to republish and/or LINK any newswire for any legitimate media purpose as long as you name Newswire Today and LINK as the source.
 
  Is this your article?
Activate ALL web links and social stream by Upgrading to Press Release PREMIUM Plan Now!

GE News Center | Rockland Capital
Publisher Contact: Andy Katell - GE Energy Financial Services 
203-961-5773 andrew.katell[.]ge.com
 
Newswire Today - PRZOOM / PRTODAY disclaims any content contained in this article. If you need/wish to contact the company who published the current release, you will need to contact them - NOT us. Issuers of articles are solely responsible for the accuracy of their content. Our complete disclaimer appears here.
IMPORTANT INFORMATION: Issuance, publication or distribution of this press release in certain jurisdictions could be subject to restrictions. The recipient of this press release is responsible for using this press release and the information herein in accordance with the applicable rules and regulations in the particular jurisdiction. This press release does not constitute an offer or an offering to acquire or subscribe for any General Electric Company securities in any jurisdiction including any other companies listed or named in this release.

Energy via RSSAdd NewswireToday - PRZOOM Headline News to FeedBurner
Find who RetweetFollow @NewswireTODAY



Are you the owner of this article?, Turn it PREMIUM with your LOGO instead - and make it 3rd party Ads-Free! within the next hour!


Read Latest Articles From General Electric Company / Company Profile


Read Energy Most Recent Related Newswires:

Vestas Secures Order for 101 MW in the United States
GE’s First Power Services Remote Monitoring and Diagnostics Center in Asia Pacific Enables Increased Performance through Analytics
PPG to Distribute Wastewater Substrate-repair Products from Sauereisen
Enel Begins Operations At World’s First Commercial Geothermal-hydro Hybrid Power Plant
Vestas Secures 112 MW for Three Projects in France
ENGIE and Statoil Agree on the Renegotiation of Their Long-term Gas Supply Contracts
ENGIE and AES Andres Leverage Core Strengths to Provide Reliable and Competitive LNG Supply in the Caribbean
Power Costs, Inc. (PCI) and GE Power Collaborate to Link Energy Operations with Energy Trading for End-to-End Machine to Market Software Solutions
GE Oil & Gas Signs Agreement with TAG GmbH to Install New Tuning Maintenance (TUMAS) Software on Entire Fleet of Gas Turbines
ENGIE Announces Two New Major Collaborations to Foster New Innovative Green Gas Production Methods Across Europe
Enel Inaugurates Apiacás Hydropower Complex in Brazil
Steam and Gas Turbine Manufacturers Realign Strategies to Harness Growth Opportunities within Clean Power Generation
Enel Starts Construction of Peru’s Largest Solar PV Plant
GE and Maersk Drilling to Pilot Marine Digital Transformation
SolarWinds to Join the Discussion on Interoperable IT Management for Defense Forces at AFCEA’s TechNet Asia-Pacific 2016

Boost Your Social Network
& Crowdfunding Campaigns


LIFETIME SOCIAL MEDIA WALL
NewswireToday Celebrates 10 Years in Business


PREMIUM Members


Visit  BizJobs.com

Visit  La Bella Bakery Artisan Bakery Arizona





 
  ©2016 Newswire Today — Limelon Advertising, Co.
Home | About | Advertise/Pricing | Contact | Investors | Privacy/TOS | Sitemap | FRANCAIS
newswire, PR free press releases distribution service magazines engine news alert newsroom press room breaking news public relations articles company news alerts newswiredistribution ezine bizentrepreneur biznewstoday digital business report market search pr firms agencies reports distri-bution today investor relation successful internet entrepreneurs newswire distribution prtoday.com freenewswiredistribution asianewstoday bizwiretoday USA pr UK today - NOT affiliated with PRNewswire as we declined their partnership offer in 2013
 
PRTODAY & NewswireTODAY are NOT affiliated with USA TODAY (usatoday.com)