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Invenergy and Marubeni Close Refinancing for Hardee Power Project - Invenergy LLC (“Invenergy”) and Marubeni Corporation (“Marubeni”) announced the successful refinancing of the Hardee Power Plant (“Hardee”), a 370 MW natural gas-fired energy facility in Hardee County, Florida - Marubeni.com
Invenergy and Marubeni Close Refinancing for Hardee Power Project

 

NewswireToday - /newswire/ - Chicago, IL, United States, 2012/11/21 - Invenergy LLC (“Invenergy”) and Marubeni Corporation (“Marubeni”) announced the successful refinancing of the Hardee Power Plant (“Hardee”), a 370 MW natural gas-fired energy facility in Hardee County, Florida - Marubeni.com.

   
 
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The project financing was led and arranged by Mizuho Corporate Bank, Ltd which serves as the Mandated Lead Arranger, Administrative Agent and Collateral Agent. Sumitomo Mitsui Trust Bank, Ltd also was a lender for the transaction.

The Hardee facility includes both combined cycle and peaking capabilities. The power plant is located in Bowling Green, Florida, approximately sixty miles southeast of Tampa. It is jointly owned by Invenergy Thermal LLC, an affiliate of Invenergy, and Marubeni. The facility is operated and maintained by Invenergy Services LLC, also an affiliate of Invenergy.

"Invenergy is pleased to complete this refinancing, which allows Invenergy to retire shorter-term financings associated with Hardee, and provides additional capital that can be used in our project development activities." said Jim Murphy, Chief Financial Officer and Chief Operating Officer of Invenergy. “Our North American fleet of gas-fired generating assets currently totals over 2,200 MW in operation and 600 MW in construction. We look forward to continuing to expand our clean energy portfolio in the United States, Canada, and Europe.”

“This refinancing brought together Invenergy’s development and operating capabilities with Marubeni’s relationships with certain financing parties. Together, we were able to deliver additional long-term value to our Hardee investments,” said Toshi Fukumura, President and CEO of New York-based Marubeni Power International, Inc. “Marubeni is committed to our existing investments and to expanding our power generation portfolio through our participation in development projects as well as acquisitions in the North American market.”

Invenergy and Marubeni jointly own two other natural-gas fired energy facilities in the United States: the 314 MW Spindle Hill peaking plant in Colorado; and the 357 MW Cannon Falls peaking plant in Minnesota. In addition, they jointly own the 78 MW Raleigh wind project in Ontario, Canada.

About Invenergy
Invenergy (invenergyllc.com) and its affiliated companies develop, own and operate large-scale renewable and other clean energy generation facilities in North America and Europe. Invenergy is committed to clean power alternatives and continued innovation in electricity generation. Invenergy's home office is located in Chicago and it has regional development offices in the United States, Canada, and Europe.

Invenergy and its affiliated companies currently have over 6,600 MW of wind, solar, and thermal projects under contract, in construction, or in operation.

About Marubeni
Marubeni Corporation (marubeni.com / marubenipower.com) was founded in 1858 and incorporated in 1949 with its principal office located in Tokyo, Japan. It manages business across a wide range of industrial sectors throughout the world, and is a publicly traded company quoted on three stock exchanges in Japan: Tokyo, Osaka, and Nagoya.

Marubeni first established its power industry presence through the EPC business, with more than 74,000 MW supplied/constructed all over the world in various fuel and technology types. Marubeni expanded its business into the IPP arena in the early 1990’s, and now owns approximately 8,855 MW of net generating capacity (30,009 MW gross capacity). Marubeni manages its electricity sector investments in the North American electricity market through Marubeni Power International, Inc., based in New York, NY.

Contact:
Xavier Tournier, Vice President
Marubeni Power International
P: 212-450-0640 - E: Tournier-x[.]marubeni.com.

 
 
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Written by / Agency / Source: Invenergy, LLC / Invenergy Services

 
 

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Invenergy and Marubeni Close Refinancing for Hardee Power Project

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