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  • GE Energy Financial Services and Competitive Power Ventures Close Financing on 785MW CPV Towantic Energy Center in Oxford, Connecticut
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  • GE Receives 22nd and 23rd Orders for Largest, Most Efficient HA Turbines; Caithness Moxie Freedom Project Marks First Project Financing for HA
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We offer customers a variety of financial solutions to realize the potential of their businesses. Our Debt products include Debt Financing, Leases, Preferred Limited Partnerships and Limited Partnerships. This capital enables companies to pursue new projects, improve operations, and make acquisitions or capital expenditures.

  • 30% of our portfolio is debt investments
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    Year
    Product
    Company Name
    Sector
    Technology
    Location
    2016
    Financing
    Towantic CPV
    Power
    Gas
    Oxford, CT

    GE Energy Financial Services and Competitive Power Ventures Close Financing on 785MW CPV Towantic Energy Center in Oxford, Connecticut

    BRAINTREE, MA , Mar 11, 2016 — Competitive Power Ventures ("CPV") and GE unit (NYSE: GE) GE Energy Financial Services announced today they have closed financing on the 785 megawatt ("MW") CPV Towantic Energy Center ("CPV Towantic") in the Western Connecticut town of Oxford. This is CPV's second successful project financing since being acquired by Global Infrastructure Partners in May 2015. The approximate $753 million debt financing, led by MUFG Union Bank, N.A., Credit Agricole Corporate and Investment Bank, and CIT Bank, N.A., was arranged with a total of sixteen lenders participating in the financing. The consortium of lenders is comprised of long-standing CPV relationship-based lenders as well as a few lenders for whom CPV Towantic represents their first investment in the U.S. power generation...

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    GE Energy Financial Services and Competitive Power Ventures Close Financing on 785MW CPV Towantic Energy Center in Oxford, Connecticut

    "CPV Towantic represents a significant investment alongside a valued partner and is permitted to introduce GE's advanced, high efficiency HA power generation technology to the New England region."
    — David Nason President & CEO of GE Energy Financial Services
    • $753 million

      debt financing

    • 800,000

      US homes powered

    Close
    2015
    Financing
    Salem Harbor Station
    Power
    Gas
    Salem, MA

    Salem Harbor Station Closes Equity and Debt Financing

    SALEM, MASSACHUSETTS, Jan 9, 2015 — Footprint Power Salem Harbor Development LP today announced that it has obtained the financing necessary to complete the construction of the new Salem Harbor Station. The financial close caps off a month of major milestones for the project, including execution and unanimous approval by the Salem City Council of a long term property tax payment agreement and a community benefits agreement, and the execution of an engineering, procurement and construction contract (EPC). Under the terms of the financing transaction, Highstar Capital IV, L.P., and its affiliated funds ("Highstar IV") managed by Oaktree Capital Management, L.P. ("Oaktree") will invest 87.5% of the equity necessary for construction of the project. An affiliate of Toyota Tsusho Corporation ("Toyota Tsusho") will invest...

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    • Joint lead-arranger

      $600M Debt Facility

    • 674-MW

    Close
    2015
    Financing
    Moxie Freedom Project
    Power
    Gas
    Luzerne County, PA

    GE Receives 22nd and 23rd Orders for Largest, Most Efficient HA Turbines; Caithness Moxie Freedom Project Marks First Project Financing for HA

    SCHENECTADY, NY, Dec 8, 2015 — Leadership takes moxie. GE (NYSE:GE), BNP Paribas, Citigroup and Mitsubishi UFJ Financial Group are co-leading project financing for construction and operation of the Caithness Moxie Freedom power plant in Luzerne County, PA - the first plant using GE's high efficiency 7HA.02 gas turbines to be project financed. Moxie Energy LLC and Caithness Energy, L.L.C. jointly developed the combined cycle facility. Global Infrastructure Partners, John Hancock and First Reserve are preferred equity investors. The 1,029 megawatt (MW) plant will be able to generate the equivalent power needed to supply approximately one million US homes. "Working with GE on both the technology and the financing helps us move forward with confidence in the construction and operation of the Caithness...

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    GE Receives 22nd and 23rd Orders for Largest, Most Efficient HA Turbines; Caithness Moxie Freedom Project Marks First Project Financing for HA

    "Being selected for the Caithness Moxie Freedom Project shows the power of the GE store"
    — Joe Mastrangelo President and CEO, gas power systems at GE Power
    • 1,000,000

      US Homes powered

    • Two GE 7HA.02

      gas turbines

    Close
    2014
    Financing
    Mimasaka Musashi
    Renewable
    Solar
    Okayama, Japan

    GE Energy Financial Services and Pacifico Energy to Construct Second Joint Solar Project in Japan

    OKAYAMA, JAPAN, Dec 10, 2014 — GE unit (NYSE: GE) GE Energy Financial Services is continuing its expansion into the Japanese renewable energy power market, completing its second solar project financing transaction with Pacifico Energy, a Tokyo–based utility–scale solar project developer and subsidiary of Virginia Solar Group. GE Energy Financial Services invested alongside Virginia Solar Group in Mimasaka Musashi, a 42–megawatt (DC) photovoltaic solar power project under construction in the prefecture of Okayama. Financing for the project was completed on a non– recourse project finance basis and was supported by a JPY ¥13 billion credit facility from the Bank of Tokyo–Mitsubishi UFJ and Chugoku Bank. Additional financial details were not disclosed. Located on the site of a...

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    GE Energy Financial Services and Pacifico Energy to Construct Second Joint Solar Project in Japan

    "We are committed to building a long-term relationship with Pacifico Energy and helping Japan meet its renewable energy targets"
    — Sushil Verma Managing Director and Japan Business leader at GE Energy Financial Services
    • 42-MW

      solar PV plant

    Close
    2014
    Financing
    CPV St. Charles Energy Center
    Power
    Gas
    Charles County, MD

    GE Energy Financial Services Led $550 Million Financing in support of the CPV St. Charles, MD Power Project

    CHARLES COUNTY, MARYLAND, Aug 8, 2014 — Maryland–based Competitive Power Ventures (CPV) and partners Marubeni and Toyota Tsusho announced today they have closed financing with GE unit (NYSE:GE) GE Energy Financial Services and 14 other lenders for the $775 million CPV St. Charles Energy Center under construction in Waldorf, Charles County, Maryland. Financial details were not disclosed. Located 25 miles southeast of Washington, DC, the CPV St. Charles Energy Center is a state–of–the–art 725– megawatt (MW) combined–cycle natural gas–fired power plant using two reliable, highly efficient GE 7F.05 Gas Turbines and a GE D400 Steam Turbine. The project will be constructed by SNC Lavalin Constructors Inc. and operated by EthosEnergy Power Plant Services, LLC. The project will...

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    "GE is pleased to continue its long relationship with CPV by providing world–class technology connected with financing attractive to debt capital markets"
    — Carl Peterson Managing director and head of energy lending at GE Energy Financial Services
    • Lead arrange $550

      Debt Facility

    • 725-megawatt

      Natural Gas-Powered Combined-Cycle Facility

    Close
    2014
    Financing
    Newark Energy Center
    Power
    Gas
    Newark, NJ

    Energy Investors Funds Acquires Hess Corporation's 50 Percent Equity Stake In GE-Powered Newark Energy Center In New Jersey With Financing From Credit Agricole, GE And MUFG

    NEWARK, NJ, Jun 20, 2014 — Energy Investors Funds ("EIF"), an energy–focused private equity firm, announced today that two EIF–managed funds have indirectly acquired an additional 50 percent ownership stake in the Newark Energy Center from Hess Corporation (NYSE: HES) using a $590 million loan from Crédit Agricole Corporate and Investment Bank, GE unit (NYSE: GE) GE Energy Financial Services and Mitsubishi UFJ Financial Group (MUFG). EIF–NEC, LLC, an entity jointly owned by the two EIF–managed funds, will use the loan to support the acquisition, construction and operation of the 705–megawatt power plant, which is being built using GE's advanced combined–cycle, natural gas–fired turbine technology. With this acquisition, EIF–NEC now holds...

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    Energy Investors Funds Acquires Hess Corporation's 50 Percent Equity Stake In GE-Powered Newark Energy Center In New Jersey With Financing From Credit Agricole, GE And MUFG

    "This is the sixth thermal debt investment our group has led in the last year, with a total project capacity exceeding 3,000 megawatts. The Newark Energy Center highlights GE's ability to combine technology and financial structuring expertise to provide unique solutions that meet our customers' needs."
    — Carl Peterson Managing Director and Debt Origination leader at GE Energy Financial Services
    • Debt Investment

    • 705-megawatts

      gas-fired power plant

    Close
    2014
    Financing
    Grays Harbor Energy Center
    Power
    Gas
    Elma, WA

    Invenergy Completes Refinancing For Grays Harbor Energy Center in Washington State

    CHICAGO, IL, Apr 29, 2014 — Invenergy Development Company LLC announced today the successful refinancing of its 620 MW Grays Harbor Energy Center ("Grays Harbor"), a natural gas-fueled power generation project in Elma, Washington. Grays Harbor, which began commercial operations in 2008, is located approximately thirty miles west of Olympia, in Grays Harbor County. The facility consists of two gas-fired GE Frame 7FA combustion turbines and one GE steam turbine generator operating in combined–cycle mode with duct firing. GE Energy Financial Services – through GE Capital Markets, Inc. – acted as Book Runner and Joint Lead Arranger for the transaction. CoBank also served as Joint Lead Arranger. In addition, BNP Paribas and Union Bank are providing financing in...

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    • Debt

      refinancing

    • 620-megawatt

      Natural Gas-Fired Power Plant

    Close
    2014
    Financing
    All American Oil & Gas
    Oil & Gas
    N/A
    Bakersfield, CA

    GE Unit Lead-Arranges $200 Million Senior Debt Facility in One of the Largest Producing Oil Fields in the US

    BAKERSFIELD, CA, Oct 15, 2014 — GE unit (NYSE: GE) GE Energy Financial Services has arranged a senior secured revolving credit facility for All American Oil & Gas, Inc. to refinance debt and fund reserve development in the Bakersfield, California, Kern River Oil Field. The $200 million facility –– with a $131 million initial borrowing base –– was provided to oil and gas exploration and production company Kern River Holdings, Inc., a wholly-owned subsidiary of All American Oil & Gas, Inc. GE Energy Financial Services served as administrative agent and, through its GE Capital Markets, Inc. affiliate, acted as lead arranger and book runner. Additional financial details are not disclosed. The Kern River Oil Field was discovered in 1899 and covers 10,750 acres in the San...

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    GE Unit Lead-Arranges $200 Million Senior Debt Facility in One of the Largest Producing Oil Fields in the US

    "We are impressed with the management team and historical performance at Kern River Holdings, and look forward to helping the company grow with efficient capital solutions"
    — Carl Peterson Managing Director and Head of Energy Lending at GE Energy Financial Services
    • Producing

      ~70,000 barrels/day

    • 10,750

      acres

    Close
    2014
    Financing
    Elgin Energy Center
    Power
    Gas
    Elgin, IL

    GE Unit Provides $50 Million Loan for Illinois Power Plant

    LAS VEGAS AND ELGIN, ILLINOIS, Apr 8, 2014 — Growing its power debt business, GE unit (NYSE: GE) 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. The deal was announced today at the 29ͭ ͪ 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...

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    GE Unit Provides $50 Million Loan for Illinois Power Plant

    "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."
    — Carl Peterson Managing Director and Debt Origination leader at GE Energy Financial Services
    • $50 million senior secured term loan

      Debt Investment

    • 484-megawatt

      gas-fired power plant

    Close
    2014
    Financing
    Saguaro Power Plant
    Power
    Gas
    Henderson, NV

    GE Connects Capital and Equipment for Saguaro Power Company's 105-Megawatt Gas-Fired Co-Generation Plant in Nevada

    HENDERSON, NEV., Jan 6, 2014 — Supporting a power plant that uses GE technology to deliver reliable, lower-emission energy while expanding its generation portfolio, GE Energy Financial Services - through GE Capital Markets, Inc. – served as the lead arranger in a $97.4 million senior secured credit facility for Saguaro Power Company’s 105-megawatt combined cycle cogeneration project in Nevada. Affiliates of NRG Energy (NYSE: NRG) and a partnership between MSD Capital, L.P. and Paragon Energy Holdings each maintain 50 percent ownership in the plant, located in Henderson. In addition to GE Energy Financial Services, CIT Corporate Finance, Energy participated in the credit facility as a lender and Documentation Agent. Additional financial details of the transaction were not disclosed. A key...

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    GE Connects Capital and Equipment for Saguaro Power Company's 105-Megawatt Gas-Fired Co-Generation Plant in Nevada

    "This cogeneration project illustrates GE's unique ability to provide both energy capital and technology. Our growth in power plant debt has also recently included loans for the 700-megawatt CPV Woodbridge Energy Center and 584-megawatt Nelson Energy Center."
    — Carl Peterson Managing Director and Debt Origination leader at GE Energy Financial Services.
    • Debt

      Investment

    • 105-megawatt

      gas-fired co-generation plant

    Close
    2014
    Financing
    Freeport LNG
    Oil & Gas
    N/A
    Southeast Texas

    Freeport LNG Selects GE for Major North America LNG Export Project

    NEW YORK, Sep 10, 2014 — Freeport LNG, Texas Will Be First World-Scale Electric Liquefied Natural Gas (eLNG) Plant in North America, Delivering Base Volume of 4.4 Million Metric Tonnes Per Annum of LNG Per Train GE to Provide Freeport's Main Contractor, CZJV, with the Main Refrigeration Compressor Trains, Driven by GE's Variable-Speed Drive Electric Motors GE is Providing Technology and Financing GE Was Chosen Based on its Strong Electrical and Mechanical Experience in Delivering, Powering, Testing and Financing Complex, Large LNG Facilities GE Oil & Gas (NYSE: GE) announced today that it is providing both technology and capital to help expedite construction of the Freeport LNG gas liquefaction and liquefied natural gas (LNG) export project in Southeast Texas. GE is supplying the main...

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    Freeport LNG Selects GE for Major North America LNG Export Project

    • 8.8 metric tonnes per annum

      gas liquefaction and liquefied natural gas (LNG) export project

    Close
    2013
    Financing
    Nelson Energy Center
    Power
    Gas
    Rock Falls, IL

    GE Providing Financing, Technology and Services for Gas-Fired Power Plant In Illinois

    ROCK FALLS, IL, Dec 12, 2013 — GE (NYSE: GE) announced today it is anchoring a lending group for longtime customer Invenergy LLC to finance construction of its 584-megawatt Nelson Energy Center in Illinois. The plant will operate with GE’s 7F gas turbine technology, with support of a long-term GE maintenance services agreement. GE Energy Financial Services served as the administrative agent, bookrunner and — through GE Capital Markets, Inc. — as primary lead arranger of the senior secured credit facilities. GE Energy Financial Services, ING Capital LLC and Siemens Financial Services, Inc. are providing construction and term loans for the plant, under construction in Rock Falls, about 120 miles west of Chicago. ING Capital LLC served as joint lead arranger and documentation agent....

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    GE Providing Financing, Technology and Services for Gas-Fired Power Plant In Illinois

    " This transaction reinforces GE's unique ability to connect financing and technology to serve a common customer, expands our relationship with longtime customer Invenergy to lead arranging and grows our debt portfolio."
    — Carl Peterson Managing Director and Debt Origination Leader at GE Energy Financial Services
    • Debt

      Investment

    • 584-megawatt

      gas-fired power plant

    Close
    2013
    Financing
    CPV Woodbridge Energy Center
    Power
    Gas
    Woodbridge Township, NJ

    GE arranges financing, provides technology and services for gas-fired project in NJ

    WOODBRIDGE TOWNSHIP, NJ, Sep 20, 2013 — Competitive Power Ventures (CPV), GE Energy Financial Services and ArcLight Capital Partners announced today that they have closed financing for the $842 million CPV Woodbridge Energy Center. GE is providing financing, advanced power generation technology and services for the electric generating facility under construction in Woodbridge, New Jersey — six miles from where Thomas Edison designed the world’s first reliable electric light bulb 134 years ago. The project is owned by Competitive Power Ventures, ArcLight Capital Partners and Toyota Tsusho and will be operated by an affiliate of co-owner ArcLight. It is expected to sell its capacity through 15-year Standard Offer Capacity Agreements (SOCA) with New Jersey utilities, and energy through a hedge. The CPV...

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    GE arranges financing, provides technology and services for gas-fired project in NJ

    "By providing both capital and technology for the Woodbridge Energy Center, we are applying our skills as banker and builder, drawing on our financial strength, risk management and technical know-how. These skills are especially important when working with customers with whom we have long-standing relationships – CPV, ArcLight and Toyota Tsusho."
    — Alex Urquhart President and CEO of GE Energy Financial Services
    • Lead arrange $561M

      Debt facility

    • 700-MW

      Natural Gas-Powered Facility

    Close
    2012
    Financing
    Crete Energy Venture Facility
    Power
    Gas
    Illinois, US

    GE Demonstrates Energy Market Expertise with $107 Million Refinancing of Two Midwest Peaker Power Plants

    CRETE, ILL., Aug 28, 2012 — Demonstrating its energy market expertise, GE unit (NYSE: GE) GE Energy Financial Services has served as lead arranger of an approximately $107 million senior secured credit facility for two Illinois gas–fired peaker plants, managed by Tenaska Capital Management, LLC (TCM), an affiliate of Tenaska, one of the largest U.S. independent power producers. The transaction will allow TCM to refinance debt facilities for the plants, which use 12 GE 7EA gas turbines and are located in Crete and Manhattan. GE Energy Financial Services' affiliate, GE Capital Markets, Inc., acted as sole lead arranger for the credit facilities—a four–year term loan and revolver—and was joined by Credit Agricole Corporate and Investment Bank, Helaba Landesbank...

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    "Our expertise in merchant power and ability to provide energy sponsors with substantial capital commitments sets us apart from our institutional competitors."
    — Matt O'Connor Managing Director at GE Energy Financial Services
    • $107 million

      Senior Secured Credit Facility

    • 12

      GE 7EA gas turbines

    Close
    2012
    Financing
    Sabine Pass Liquefaction Plant
    Oil & Gas
    N/A
    Louisiana, US

    Provided Capital for the Construction of the Largest US liquefaction Terminal for Exporting LNG

    LOUISIANA, US, Aug 1, 2012 — GE Energy Financial Services provided $50 million in equity and $50 million in debt commitments for the construction of the Sabine Pass Liquefaction Plant, which will expand the Sabine Pass LNG import terminal, owned and operated by Cheniere Energy Partners, located in Cameron Parish, Louisiana. Utilizing 12 GE LM2500 gas turbines and expected to be completed in 2017, the plant will supply natural gas to BG Group in the UK and Gas Natural Fenosa of Spain, under 20–year Sale & Purchase Agreements.

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    Provided Capital for the Construction of the Largest US liquefaction Terminal for Exporting LNG

    • $50 million

      EQUITY COMMITMENTS

    • $50 million

      DEBT COMMITMENTS

    Close
    2012
    Financing
    Xcite Energy
    Oil & Gas
    N/A
    North Sea, United Kingdom

    GE Energy Financial Services Joins Leading Lenders in Signing of US$155 Million Reserves Based Loan Facility for Xcite Energy

    NORTH SEA, UNITED KINGDOM, Sep 22, 2012 — Xcite Energy is pleased to announce that it has signed a US$155 million secured reserves based loan facility agreement (the "Facility") for the Bentley field with a leading group of lending institutions. The Facility, with a term of five years, will be used to provide a substantial part of the funding required for the Phase 1B development of the Bentley heavy oil field in the UK North Sea. The Facility has been arranged with Royal Bank of Scotland plc, Societe Generale Corporate & Investment Bank, GE unit GE Energy Financial Services, Nedbank Limited, and Britannic Strategies Limited (a subsidiary of BP plc). Royal Bank of Scotland is acting as the Facility agent and security trustee, with Societe Generale acting as technical and modelling bank. The draw down under...

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    • Investment in Xcite Energy

      Third North Sea

    • Oilfield Development Financing

    Close
    2011
    Financing
    Gila River Power Station
    Power
    Gas
    Arizona, US

    $300 Million Loan for Arizona Gas-Fired Power Plant -- Owned by Entegra Power Group -- Provided by WestLB, GE, Union Bank, BNP Paribas, CIT

    GILA BEND, ARIZ., Aug 10, 2011 — Helping to meet long–term demand for electricity, five banks are providing $300 million in senior secured credit facilities for two operating power blocks at Entegra Power Group's natural gas–fired Gila River Power Station in Arizona. WestLB AG's New York branch, GE (NYSE: GE) and Union Bank acted as bookrunners, and together with BNP Paribas and CIT also served as joint lead arrangers. The credit facilities –– a six–year term loan and six–year revolver to be used for working capital and letters of credit – are for merchant power block 3 and contracted power block 4 of the Gila River Power Station, located in Gila Bend, 70 miles southwest of Phoenix. Each of the 536–megawatt power blocks, operating since 2003, uses two GE 7FA...

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    $300 Million Loan for Arizona Gas-Fired Power Plant -- Owned by Entegra Power Group -- Provided by WestLB, GE, Union Bank, BNP Paribas, CIT

    "In a market dominated by fully contracted new–build power plants, WestLB welcomed the chance to co–lead the Gila River financing with its significant merchant component. Not only are we willing to commit our own capital to such well–structured hybrid transactions, we continue to find that there is a strong core of lenders willing to provide liquidity to these transactions in broader syndications."
    — Martin Livingston Managing Director in WestLB's Global Energy Group in New York
    • $300 million

      Senior Secured Credit Facility

    • 536 mw Power Blocks

      Using two GE 7FA combined–cycle gas and GE steam turbines

    Close
    2011
    Financing
    Sterling Resources Ltd.
    Oil & Gas
    N/A
    North Sea, United Kingdom

    GE Energy Financial Services Launches North Sea Oil & Gas Development Lending Program

    LONDON, UNITED KINGDOM, Sep 15, 2011 — Launching a North Sea oil and gas development lending program, GE Energy Financial Services, a unit of GE (NYSE: GE), joined an existing group of financial institutions in a loan facility for Sterling Resources Ltd. (TSX–V:SLG). Of the GBP 105 million senior secured loan, GE Energy Financial Services has committed GBP 26.1 million.The Sterling transaction is GE Energy Financial Services' first development financing in the North Sea, complementing the existing focus of its oil and gas team. Since 1991, GE Energy Financial Services' Oil and Gas team has provided more than $4.5 billion in partnership equity and debt to independent private and public oil and gas operators in the United States. The oil and gas team is active in all major onshore basins and in the Gulf of...

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    • GBP 105 million

      senior secured loan facility

    • First North Sea

      development financing

    Close
    2010
    Financing
    Sandersville Power Plant
    Power
    Gas
    Georgia, US

    ArcLight Acquires 640-MW Georgia Power Plant with $98 Million in Financing Led by GE Energy Financial Services

    SANDERSVILLE, GA., Jul 12, 2010 — ArcLight Capital Partners, LLC, through its wholly–owned affiliate AL Sandersville Holdings, LLC, has acquired a 640–megawatt generation facility located in Sandersville, Georgia from KGen Power Corporation for $130 million. GE Energy Financial Services, a unit of GE (NYSE:GE), closed financing as the lead lender of the $98 million in senior secured credit facilities partially financing the acquisition.Built in 2002, using eight 80–megawatt GE simple–cycle gas turbines, the Sandersville plant supplies power into the southeastern power market, particularly Georgia, during periods of peak demand or supply volatility. Sandersville is strategically located near four other facilities in Georgia owned by ArcLight through its affiliate Mackinaw Power, LLC, which have...

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    • 640 mw

      Georgia power plant

    • Eight

      80–megawatt GE simple–cycle gas turbines

    Close
    2010
    Financing
    Knox Energy, Inc.
    Oil & Gas
    N/A
    Ohio, US

    GE Unit Expands Oil & Gas Investing - Introduces Loans for Development Drilling Unit

    COLUMBUS, OHIO, Oct 25, 2010 — GE Energy Financial Services, a unit of GE (NYSE: GE), announced today that it is expanding its oil and gas reserves investing business by offering loans for development drilling. In its first transaction involving this new product, GE Energy Financial Services has made a loan to Knox Energy, Inc. –– an exploration and production company based in Columbus, Ohio –– for drilling natural gas wells in central Ohio.Knox Energy will use the proceeds from the debt financing, for which financial details were not disclosed, to refinance its debt and provide capital to drill more shallow wells in a mature producing region."While we have offered reserves–based equity for more than a decade, this transaction with Knox Energy represents growth into a new...

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    • Introduction of

      new loan product for development drilling

    • Knox Energy

      signed on as first customer

    Close
    2008
    Financing
    Fotowatio
    Renewable
    Solar
    Madrid, Spain

    Sparking European and US Solar Power Expansions, GE and Grupo Corprativo Landon to Invest US $350 Million in Leading European Solar Company

    MADRID, SPAIN, Jul 31, 2008 — GE Energy Financial Services, a unit of GE (NYSE: GE), and Grupo Corporativo Landon announced today they will invest about US $350 million (€225 million) in Fotowatio, one of Spain's largest and most successful solar power project developers. Fotowatio owns, operates and is developing almost 960 megawatts of solar projects in the fast–growing solar power markets of Spain, Italy and the United States. Existing investors in Fotowatio comprise investment fund Qualitas Venture Capital and Fotowatio's management. {{quote}} "GE has all the right ingredients to succeed in solar: capital, technology, research and ecomagination." Ecomagination is GE's program to help its customers meet their environmental challenges while expanding the company's own...

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    Sparking European and US Solar Power Expansions, GE and Grupo Corprativo Landon to Invest US $350 Million in Leading European Solar Company

    "By facilitating the growth of one of the solar industry's leading developers, this investment gives us immediate access to attractive solar markets in Europe and the United States and will form an important part of GE's broader strategy to become a major player in solar power."
    — Alex Urquhart President and CEO of GE Energy Financial Services
    • $235 million

      Investment in equity and convertible debt

    • 0.32

      stake in Fotowatio

    Close
    2008
    Financing
    Sevan Voyageur
    Oil & Gas
    N/A
    Arendal, Norway

    More Oil On the Way Thanks to GE, Norway's Sevan Marine Scottish Company, Chinese and Other International Shipyards

    ARENDAL, NORWAY, May 5, 2008 — Two units of GE (NYSE: GE) are joining forces with oil drilling and production technology company Sevan Marine ASA of Norway, Oilexco North Sea Ltd. of Scotland, and a Chinese and other international shipyards to deploy an innovative cylindrical floating oil production, storage and offloading unit that can process 30,000 barrels of crude oil per day and store 300,000 barrels.Sevan Marine's affiliate Sevan Pte Ltd signed an agreement for a US $300 million senior debt project finance facility for the Sevan Voyageur with mandated lead arrangers GE Energy Financial Services and GE Transportation Finance. GE Capital Markets will syndicate the facility, fully underwritten by the lead arrangers, to a limited group of international banks. Norway's export credit agency, GIEK, has...

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    More Oil On the Way Thanks to GE, Norway's Sevan Marine Scottish Company, Chinese and Other International Shipyards

    • $300 million

      Senior Debt Project Finance Facility

    • 300,000 barrel

      Oil Storage Capacity

    Close
    2007
    Financing
    East Toba River/Montrose Creek Run-of-River Hydroelectric Generating Facilities
    Renewable
    Hydro
    British Columbia, Canada

    Plutonic and GE Close $470 Million Credit Facility; Financing of 196 MW Run-of-River Hydroelectric Project Completed

    VANCOUVER, BRITISH COLUMBIA, Nov 8, 2007 — Plutonic Power Corporation (Plutonic) (PCC–TSX) and a Canadian affiliate of GE Energy Financial Services, a unit of GE (NYSE: GE), announced today that a $470 million senior secured credit facility for the Toba Montrose General Partnership has been closed with a syndicate of financial institutions. This complements the $190 million in equity and other financial instruments that closed last week and completes funding for construction of the 196–megawatt East Toba River/Montrose Creek run–of–river hydroelectric generating facilities, 190 kilometers northwest of Vancouver at the headwaters of the Toba Inlet north of Powell River.The project's credit facilities were co–arranged by The Manufacturers Life Insurance Company (Manulife) (TSX, NYSE: MFC) and GE...

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    Plutonic and GE Close $470 Million Credit Facility; Financing of 196 MW Run-of-River Hydroelectric Project Completed

    • 0.6

      economic interest

    • 49–percent

      equity interest

    Close
    2006
    Financing
    Pakini Nui Wind Project
    Renewable
    Wind
    Hawaii, US

    World-Class Hawaiian Wind Farm, Southern Most in the US, Financed by GE Energy Financial Services

    SOUTH POINT, HAWAII, Sep 13, 2006 — GE Energy Financial Services announced today that it is financing the construction and operation by Tawhiri Power LLC of the southern–most wind farm in the United States. Powered by strong prevailing trade winds, the 21–megawatt Pakini Nui Wind Project is at South Point, one of the world's windiest habitable locations, on the island of Hawaii (the "Big Island").GE Energy Financial Services is providing debt and equity financing during the project's development, construction and operation. Additional financial details were not disclosed.The wind farm will annually produce electrical energy estimated to be sufficient for more than 10,000 homes and to reduce greenhouse gas emissions by more than 22,000 tons per year, compared with equivalent fossil fuel...

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    • 21 megawatt

      Hawaiian wind farm

    • 14

      1.5 megawatt wind turbines

    Close
    2005
    Financing
    Katahdin Power Holdings, L.L.C.
    Power
    T&D
    Massachusetts, US

    Second Major Finaning for ArcLight Capital Partners Arranged by GE Energy Financial Services

    STAMFORD, CONN., Dec 28, 2005 — GE Energy Financial Services announced today that is has completed the financing and syndication, with its affiliate, GE Capital Markets, Inc., of a $72.8 million senior debt facility for a portfolio of eight power and transmission projects owned by ArcLight Capital Partners. This is the second major financing led by GE Energy Financial Services and GE Capital Markets for ArcLight.In this transaction, Energy Financial Services underwrote and structured the senior debt facility for Katahdin Power Holdings I, LLC and Katahdin Power Holdings II, LLC, subsidiaries of the funds that ArcLight manages. General Electric Capital Corporation is served as the Administrative Agent for the debt facility, while GE Capital Markets was the Sole Lead Arranger and Sole Bookrunner for the syndication,...

    Read Full Press Release
    • Eight

      power and transmission projects

    Close
    2005
    Financing
    Lincoln Generating Facility
    Power
    Gas
    Manhattan, Illinois, US

    GE Commercial Finance's Energy Financial Services Unit Structures and Underwrites Financing of Power Plant Acquisition

    MANHATTAN, ILL., Mar 28, 2005 — GE Commercial Finance Energy Financal Services announced today that it had structured and underwrittern the financing of two private equity funds' acquistion of the Lincoln Generating Facility, a power plant in Illinois.ArcLight Energy Partners Fund II, L.P. and Tyr Capital, private equity investors, acquired the Lincoln Generating Facility from Allegheny Energy Supply. ArcLight Energy Partners Fund II, L.P. engaged Energy Financial Services to structure and underwrite $143.9 million in debt to partially fund the acquisition. The financing comprised $122 million in senior secured term loans and up to $21.9 million in letters of credit. Lincoln is a 640–megawatt gas–fired, peaking power plant in Manhattan, Ill. It sells its generation capacity, energy output, and...

    Read Full Press Release
    • 640 mw

      gas–fired, peaking power plant

    Close
    2005
    Financing
    Sevan Production AS
    Oil & Gas
    N/A
    Brazil

    GE and ANZ Investment Bank Arrange US $120 Million Debt Facility for Sevan's Marine Innovate, High Tech Floating, Storage, Offloading Unit to Be Chartered to Petrobras

    BRAZIL, Dec 13, 2005 — Three GE financial businesses and ANZ, acting as joint Mandated Lead Arrangers, and Sevan Production AS, announced the signing of a US$120 million senior debt project finance facility for Sevan's first floating oil production, storage and offloading (FPSO).The SSP Piranema will be deployed offshore Brazil under an 11–year charter with Petrobras. The innovative, cylindrical shaped FPSO is designed for all sea environments and will produce light crude for Petrobras. The SSP Piranema will be equipped with a processing plant capacity of 30,000 barrels of oil per day, a gas injection plant with compression capacity of 3.6 million cubic meters per day and an oil storage capacity of 300,000 barrels. The SSP Piranema is under construction at the Yantai Raffles shipyard in China....

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    GE and ANZ Investment Bank Arrange US $120 Million Debt Facility for Sevan's Marine Innovate, High Tech Floating, Storage, Offloading Unit to Be Chartered to Petrobras

    • 30,000 barrel

      Processing Capacity Per Day

    • 300,000 barrel

      Oil Storage Capacity

    Close
  • Debt Financing Projects

    (Click below to expand)

    Year
    Product
    Company Name
    Sector
    Technology
    Location
    2016
    Financing
    Towantic CPV
    Power
    Gas
    Oxford, CT

    GE Energy Financial Services and Competitive Power Ventures Close Financing on 785MW CPV Towantic Energy Center in Oxford, Connecticut

    BRAINTREE, MA , Mar 11, 2016 — Competitive Power Ventures ("CPV") and GE unit (NYSE: GE) GE Energy Financial Services announced today they have closed financing on the 785 megawatt ("MW") CPV Towantic Energy Center ("CPV Towantic") in the Western Connecticut town of Oxford. This is CPV's second successful project financing since being acquired by Global Infrastructure Partners in May 2015. The approximate $753 million debt financing, led by MUFG Union Bank, N.A., Credit Agricole Corporate and Investment Bank, and CIT Bank, N.A., was arranged with a total of sixteen lenders participating in the financing. The consortium of lenders is comprised of long-standing CPV relationship-based lenders as well as a few lenders for whom CPV Towantic represents their first investment in the U.S. power generation...

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    GE Energy Financial Services and Competitive Power Ventures Close Financing on 785MW CPV Towantic Energy Center in Oxford, Connecticut

    "CPV Towantic represents a significant investment alongside a valued partner and is permitted to introduce GE's advanced, high efficiency HA power generation technology to the New England region."
    — David Nason President & CEO of GE Energy Financial Services
    • $753 million

      debt financing

    • 800,000

      US homes powered

    Close
    2015
    Financing
    Salem Harbor Station
    Power
    Gas
    Salem, MA

    Salem Harbor Station Closes Equity and Debt Financing

    SALEM, MASSACHUSETTS, Jan 9, 2015 — Footprint Power Salem Harbor Development LP today announced that it has obtained the financing necessary to complete the construction of the new Salem Harbor Station. The financial close caps off a month of major milestones for the project, including execution and unanimous approval by the Salem City Council of a long term property tax payment agreement and a community benefits agreement, and the execution of an engineering, procurement and construction contract (EPC). Under the terms of the financing transaction, Highstar Capital IV, L.P., and its affiliated funds ("Highstar IV") managed by Oaktree Capital Management, L.P. ("Oaktree") will invest 87.5% of the equity necessary for construction of the project. An affiliate of Toyota Tsusho Corporation ("Toyota Tsusho") will invest...

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    • Joint lead-arranger

      $600M Debt Facility

    • 674-MW

    Close
    2015
    Financing
    Moxie Freedom Project
    Power
    Gas
    Luzerne County, PA

    GE Receives 22nd and 23rd Orders for Largest, Most Efficient HA Turbines; Caithness Moxie Freedom Project Marks First Project Financing for HA

    SCHENECTADY, NY, Dec 8, 2015 — Leadership takes moxie. GE (NYSE:GE), BNP Paribas, Citigroup and Mitsubishi UFJ Financial Group are co-leading project financing for construction and operation of the Caithness Moxie Freedom power plant in Luzerne County, PA - the first plant using GE's high efficiency 7HA.02 gas turbines to be project financed. Moxie Energy LLC and Caithness Energy, L.L.C. jointly developed the combined cycle facility. Global Infrastructure Partners, John Hancock and First Reserve are preferred equity investors. The 1,029 megawatt (MW) plant will be able to generate the equivalent power needed to supply approximately one million US homes. "Working with GE on both the technology and the financing helps us move forward with confidence in the construction and operation of the Caithness...

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    GE Receives 22nd and 23rd Orders for Largest, Most Efficient HA Turbines; Caithness Moxie Freedom Project Marks First Project Financing for HA

    "Being selected for the Caithness Moxie Freedom Project shows the power of the GE store"
    — Joe Mastrangelo President and CEO, gas power systems at GE Power
    • 1,000,000

      US Homes powered

    • Two GE 7HA.02

      gas turbines

    Close
    2014
    Financing
    Mimasaka Musashi
    Renewable
    Solar
    Okayama, Japan

    GE Energy Financial Services and Pacifico Energy to Construct Second Joint Solar Project in Japan

    OKAYAMA, JAPAN, Dec 10, 2014 — GE unit (NYSE: GE) GE Energy Financial Services is continuing its expansion into the Japanese renewable energy power market, completing its second solar project financing transaction with Pacifico Energy, a Tokyo–based utility–scale solar project developer and subsidiary of Virginia Solar Group. GE Energy Financial Services invested alongside Virginia Solar Group in Mimasaka Musashi, a 42–megawatt (DC) photovoltaic solar power project under construction in the prefecture of Okayama. Financing for the project was completed on a non– recourse project finance basis and was supported by a JPY ¥13 billion credit facility from the Bank of Tokyo–Mitsubishi UFJ and Chugoku Bank. Additional financial details were not disclosed. Located on the site of a...

    Read Full Press Release

    GE Energy Financial Services and Pacifico Energy to Construct Second Joint Solar Project in Japan

    "We are committed to building a long-term relationship with Pacifico Energy and helping Japan meet its renewable energy targets"
    — Sushil Verma Managing Director and Japan Business leader at GE Energy Financial Services
    • 42-MW

      solar PV plant

    Close
    2014
    Financing
    CPV St. Charles Energy Center
    Power
    Gas
    Charles County, MD

    GE Energy Financial Services Led $550 Million Financing in support of the CPV St. Charles, MD Power Project

    CHARLES COUNTY, MARYLAND, Aug 8, 2014 — Maryland–based Competitive Power Ventures (CPV) and partners Marubeni and Toyota Tsusho announced today they have closed financing with GE unit (NYSE:GE) GE Energy Financial Services and 14 other lenders for the $775 million CPV St. Charles Energy Center under construction in Waldorf, Charles County, Maryland. Financial details were not disclosed. Located 25 miles southeast of Washington, DC, the CPV St. Charles Energy Center is a state–of–the–art 725– megawatt (MW) combined–cycle natural gas–fired power plant using two reliable, highly efficient GE 7F.05 Gas Turbines and a GE D400 Steam Turbine. The project will be constructed by SNC Lavalin Constructors Inc. and operated by EthosEnergy Power Plant Services, LLC. The project will...

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    "GE is pleased to continue its long relationship with CPV by providing world–class technology connected with financing attractive to debt capital markets"
    — Carl Peterson Managing director and head of energy lending at GE Energy Financial Services
    • Lead arrange $550

      Debt Facility

    • 725-megawatt

      Natural Gas-Powered Combined-Cycle Facility

    Close
    2014
    Financing
    Newark Energy Center
    Power
    Gas
    Newark, NJ

    Energy Investors Funds Acquires Hess Corporation's 50 Percent Equity Stake In GE-Powered Newark Energy Center In New Jersey With Financing From Credit Agricole, GE And MUFG

    NEWARK, NJ, Jun 20, 2014 — Energy Investors Funds ("EIF"), an energy–focused private equity firm, announced today that two EIF–managed funds have indirectly acquired an additional 50 percent ownership stake in the Newark Energy Center from Hess Corporation (NYSE: HES) using a $590 million loan from Crédit Agricole Corporate and Investment Bank, GE unit (NYSE: GE) GE Energy Financial Services and Mitsubishi UFJ Financial Group (MUFG). EIF–NEC, LLC, an entity jointly owned by the two EIF–managed funds, will use the loan to support the acquisition, construction and operation of the 705–megawatt power plant, which is being built using GE's advanced combined–cycle, natural gas–fired turbine technology. With this acquisition, EIF–NEC now holds...

    Read Full Press Release

    Energy Investors Funds Acquires Hess Corporation's 50 Percent Equity Stake In GE-Powered Newark Energy Center In New Jersey With Financing From Credit Agricole, GE And MUFG

    "This is the sixth thermal debt investment our group has led in the last year, with a total project capacity exceeding 3,000 megawatts. The Newark Energy Center highlights GE's ability to combine technology and financial structuring expertise to provide unique solutions that meet our customers' needs."
    — Carl Peterson Managing Director and Debt Origination leader at GE Energy Financial Services
    • Debt Investment

    • 705-megawatts

      gas-fired power plant

    Close
    2014
    Financing
    Grays Harbor Energy Center
    Power
    Gas
    Elma, WA

    Invenergy Completes Refinancing For Grays Harbor Energy Center in Washington State

    CHICAGO, IL, Apr 29, 2014 — Invenergy Development Company LLC announced today the successful refinancing of its 620 MW Grays Harbor Energy Center ("Grays Harbor"), a natural gas-fueled power generation project in Elma, Washington. Grays Harbor, which began commercial operations in 2008, is located approximately thirty miles west of Olympia, in Grays Harbor County. The facility consists of two gas-fired GE Frame 7FA combustion turbines and one GE steam turbine generator operating in combined–cycle mode with duct firing. GE Energy Financial Services – through GE Capital Markets, Inc. – acted as Book Runner and Joint Lead Arranger for the transaction. CoBank also served as Joint Lead Arranger. In addition, BNP Paribas and Union Bank are providing financing in...

    Read Full Press Release
    • Debt

      refinancing

    • 620-megawatt

      Natural Gas-Fired Power Plant

    Close
    2014
    Financing
    All American Oil & Gas
    Oil & Gas
    N/A
    Bakersfield, CA

    GE Unit Lead-Arranges $200 Million Senior Debt Facility in One of the Largest Producing Oil Fields in the US

    BAKERSFIELD, CA, Oct 15, 2014 — GE unit (NYSE: GE) GE Energy Financial Services has arranged a senior secured revolving credit facility for All American Oil & Gas, Inc. to refinance debt and fund reserve development in the Bakersfield, California, Kern River Oil Field. The $200 million facility –– with a $131 million initial borrowing base –– was provided to oil and gas exploration and production company Kern River Holdings, Inc., a wholly-owned subsidiary of All American Oil & Gas, Inc. GE Energy Financial Services served as administrative agent and, through its GE Capital Markets, Inc. affiliate, acted as lead arranger and book runner. Additional financial details are not disclosed. The Kern River Oil Field was discovered in 1899 and covers 10,750 acres in the San...

    Read Full Press Release

    GE Unit Lead-Arranges $200 Million Senior Debt Facility in One of the Largest Producing Oil Fields in the US

    "We are impressed with the management team and historical performance at Kern River Holdings, and look forward to helping the company grow with efficient capital solutions"
    — Carl Peterson Managing Director and Head of Energy Lending at GE Energy Financial Services
    • Producing

      ~70,000 barrels/day

    • 10,750

      acres

    Close
    2014
    Financing
    Elgin Energy Center
    Power
    Gas
    Elgin, IL

    GE Unit Provides $50 Million Loan for Illinois Power Plant

    LAS VEGAS AND ELGIN, ILLINOIS, Apr 8, 2014 — Growing its power debt business, GE unit (NYSE: GE) 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. The deal was announced today at the 29ͭ ͪ 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...

    Read Full Press Release

    GE Unit Provides $50 Million Loan for Illinois Power Plant

    "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."
    — Carl Peterson Managing Director and Debt Origination leader at GE Energy Financial Services
    • $50 million senior secured term loan

      Debt Investment

    • 484-megawatt

      gas-fired power plant

    Close
    2014
    Financing
    Saguaro Power Plant
    Power
    Gas
    Henderson, NV

    GE Connects Capital and Equipment for Saguaro Power Company's 105-Megawatt Gas-Fired Co-Generation Plant in Nevada

    HENDERSON, NEV., Jan 6, 2014 — Supporting a power plant that uses GE technology to deliver reliable, lower-emission energy while expanding its generation portfolio, GE Energy Financial Services - through GE Capital Markets, Inc. – served as the lead arranger in a $97.4 million senior secured credit facility for Saguaro Power Company’s 105-megawatt combined cycle cogeneration project in Nevada. Affiliates of NRG Energy (NYSE: NRG) and a partnership between MSD Capital, L.P. and Paragon Energy Holdings each maintain 50 percent ownership in the plant, located in Henderson. In addition to GE Energy Financial Services, CIT Corporate Finance, Energy participated in the credit facility as a lender and Documentation Agent. Additional financial details of the transaction were not disclosed. A key...

    Read Full Press Release

    GE Connects Capital and Equipment for Saguaro Power Company's 105-Megawatt Gas-Fired Co-Generation Plant in Nevada

    "This cogeneration project illustrates GE's unique ability to provide both energy capital and technology. Our growth in power plant debt has also recently included loans for the 700-megawatt CPV Woodbridge Energy Center and 584-megawatt Nelson Energy Center."
    — Carl Peterson Managing Director and Debt Origination leader at GE Energy Financial Services.
    • Debt

      Investment

    • 105-megawatt

      gas-fired co-generation plant

    Close
    2014
    Financing
    Freeport LNG
    Oil & Gas
    N/A
    Southeast Texas

    Freeport LNG Selects GE for Major North America LNG Export Project

    NEW YORK, Sep 10, 2014 — Freeport LNG, Texas Will Be First World-Scale Electric Liquefied Natural Gas (eLNG) Plant in North America, Delivering Base Volume of 4.4 Million Metric Tonnes Per Annum of LNG Per Train GE to Provide Freeport's Main Contractor, CZJV, with the Main Refrigeration Compressor Trains, Driven by GE's Variable-Speed Drive Electric Motors GE is Providing Technology and Financing GE Was Chosen Based on its Strong Electrical and Mechanical Experience in Delivering, Powering, Testing and Financing Complex, Large LNG Facilities GE Oil & Gas (NYSE: GE) announced today that it is providing both technology and capital to help expedite construction of the Freeport LNG gas liquefaction and liquefied natural gas (LNG) export project in Southeast Texas. GE is supplying the main...

    Read Full Press Release

    Freeport LNG Selects GE for Major North America LNG Export Project

    • 8.8 metric tonnes per annum

      gas liquefaction and liquefied natural gas (LNG) export project

    Close
    2013
    Financing
    Nelson Energy Center
    Power
    Gas
    Rock Falls, IL

    GE Providing Financing, Technology and Services for Gas-Fired Power Plant In Illinois

    ROCK FALLS, IL, Dec 12, 2013 — GE (NYSE: GE) announced today it is anchoring a lending group for longtime customer Invenergy LLC to finance construction of its 584-megawatt Nelson Energy Center in Illinois. The plant will operate with GE’s 7F gas turbine technology, with support of a long-term GE maintenance services agreement. GE Energy Financial Services served as the administrative agent, bookrunner and — through GE Capital Markets, Inc. — as primary lead arranger of the senior secured credit facilities. GE Energy Financial Services, ING Capital LLC and Siemens Financial Services, Inc. are providing construction and term loans for the plant, under construction in Rock Falls, about 120 miles west of Chicago. ING Capital LLC served as joint lead arranger and documentation agent....

    Read Full Press Release

    GE Providing Financing, Technology and Services for Gas-Fired Power Plant In Illinois

    " This transaction reinforces GE's unique ability to connect financing and technology to serve a common customer, expands our relationship with longtime customer Invenergy to lead arranging and grows our debt portfolio."
    — Carl Peterson Managing Director and Debt Origination Leader at GE Energy Financial Services
    • Debt

      Investment

    • 584-megawatt

      gas-fired power plant

    Close
    2013
    Financing
    CPV Woodbridge Energy Center
    Power
    Gas
    Woodbridge Township, NJ

    GE arranges financing, provides technology and services for gas-fired project in NJ

    WOODBRIDGE TOWNSHIP, NJ, Sep 20, 2013 — Competitive Power Ventures (CPV), GE Energy Financial Services and ArcLight Capital Partners announced today that they have closed financing for the $842 million CPV Woodbridge Energy Center. GE is providing financing, advanced power generation technology and services for the electric generating facility under construction in Woodbridge, New Jersey — six miles from where Thomas Edison designed the world’s first reliable electric light bulb 134 years ago. The project is owned by Competitive Power Ventures, ArcLight Capital Partners and Toyota Tsusho and will be operated by an affiliate of co-owner ArcLight. It is expected to sell its capacity through 15-year Standard Offer Capacity Agreements (SOCA) with New Jersey utilities, and energy through a hedge. The CPV...

    Read Full Press Release

    GE arranges financing, provides technology and services for gas-fired project in NJ

    "By providing both capital and technology for the Woodbridge Energy Center, we are applying our skills as banker and builder, drawing on our financial strength, risk management and technical know-how. These skills are especially important when working with customers with whom we have long-standing relationships – CPV, ArcLight and Toyota Tsusho."
    — Alex Urquhart President and CEO of GE Energy Financial Services
    • Lead arrange $561M

      Debt facility

    • 700-MW

      Natural Gas-Powered Facility

    Close
    2012
    Financing
    Crete Energy Venture Facility
    Power
    Gas
    Illinois, US

    GE Demonstrates Energy Market Expertise with $107 Million Refinancing of Two Midwest Peaker Power Plants

    CRETE, ILL., Aug 28, 2012 — Demonstrating its energy market expertise, GE unit (NYSE: GE) GE Energy Financial Services has served as lead arranger of an approximately $107 million senior secured credit facility for two Illinois gas–fired peaker plants, managed by Tenaska Capital Management, LLC (TCM), an affiliate of Tenaska, one of the largest U.S. independent power producers. The transaction will allow TCM to refinance debt facilities for the plants, which use 12 GE 7EA gas turbines and are located in Crete and Manhattan. GE Energy Financial Services' affiliate, GE Capital Markets, Inc., acted as sole lead arranger for the credit facilities—a four–year term loan and revolver—and was joined by Credit Agricole Corporate and Investment Bank, Helaba Landesbank...

    Read Full Press Release
    "Our expertise in merchant power and ability to provide energy sponsors with substantial capital commitments sets us apart from our institutional competitors."
    — Matt O'Connor Managing Director at GE Energy Financial Services
    • $107 million

      Senior Secured Credit Facility

    • 12

      GE 7EA gas turbines

    Close
    2012
    Financing
    Sabine Pass Liquefaction Plant
    Oil & Gas
    N/A
    Louisiana, US

    Provided Capital for the Construction of the Largest US liquefaction Terminal for Exporting LNG

    LOUISIANA, US, Aug 1, 2012 — GE Energy Financial Services provided $50 million in equity and $50 million in debt commitments for the construction of the Sabine Pass Liquefaction Plant, which will expand the Sabine Pass LNG import terminal, owned and operated by Cheniere Energy Partners, located in Cameron Parish, Louisiana. Utilizing 12 GE LM2500 gas turbines and expected to be completed in 2017, the plant will supply natural gas to BG Group in the UK and Gas Natural Fenosa of Spain, under 20–year Sale & Purchase Agreements.

    Read Full Press Release

    Provided Capital for the Construction of the Largest US liquefaction Terminal for Exporting LNG

    • $50 million

      EQUITY COMMITMENTS

    • $50 million

      DEBT COMMITMENTS

    Close
    2012
    Financing
    Xcite Energy
    Oil & Gas
    N/A
    North Sea, United Kingdom

    GE Energy Financial Services Joins Leading Lenders in Signing of US$155 Million Reserves Based Loan Facility for Xcite Energy

    NORTH SEA, UNITED KINGDOM, Sep 22, 2012 — Xcite Energy is pleased to announce that it has signed a US$155 million secured reserves based loan facility agreement (the "Facility") for the Bentley field with a leading group of lending institutions. The Facility, with a term of five years, will be used to provide a substantial part of the funding required for the Phase 1B development of the Bentley heavy oil field in the UK North Sea. The Facility has been arranged with Royal Bank of Scotland plc, Societe Generale Corporate & Investment Bank, GE unit GE Energy Financial Services, Nedbank Limited, and Britannic Strategies Limited (a subsidiary of BP plc). Royal Bank of Scotland is acting as the Facility agent and security trustee, with Societe Generale acting as technical and modelling bank. The draw down under...

    Read Full Press Release
    • Investment in Xcite Energy

      Third North Sea

    • Oilfield Development Financing

    Close
    2011
    Financing
    Gila River Power Station
    Power
    Gas
    Arizona, US

    $300 Million Loan for Arizona Gas-Fired Power Plant -- Owned by Entegra Power Group -- Provided by WestLB, GE, Union Bank, BNP Paribas, CIT

    GILA BEND, ARIZ., Aug 10, 2011 — Helping to meet long–term demand for electricity, five banks are providing $300 million in senior secured credit facilities for two operating power blocks at Entegra Power Group's natural gas–fired Gila River Power Station in Arizona. WestLB AG's New York branch, GE (NYSE: GE) and Union Bank acted as bookrunners, and together with BNP Paribas and CIT also served as joint lead arrangers. The credit facilities –– a six–year term loan and six–year revolver to be used for working capital and letters of credit – are for merchant power block 3 and contracted power block 4 of the Gila River Power Station, located in Gila Bend, 70 miles southwest of Phoenix. Each of the 536–megawatt power blocks, operating since 2003, uses two GE 7FA...

    Read Full Press Release

    $300 Million Loan for Arizona Gas-Fired Power Plant -- Owned by Entegra Power Group -- Provided by WestLB, GE, Union Bank, BNP Paribas, CIT

    "In a market dominated by fully contracted new–build power plants, WestLB welcomed the chance to co–lead the Gila River financing with its significant merchant component. Not only are we willing to commit our own capital to such well–structured hybrid transactions, we continue to find that there is a strong core of lenders willing to provide liquidity to these transactions in broader syndications."
    — Martin Livingston Managing Director in WestLB's Global Energy Group in New York
    • $300 million

      Senior Secured Credit Facility

    • 536 mw Power Blocks

      Using two GE 7FA combined–cycle gas and GE steam turbines

    Close
    2011
    Financing
    Sterling Resources Ltd.
    Oil & Gas
    N/A
    North Sea, United Kingdom

    GE Energy Financial Services Launches North Sea Oil & Gas Development Lending Program

    LONDON, UNITED KINGDOM, Sep 15, 2011 — Launching a North Sea oil and gas development lending program, GE Energy Financial Services, a unit of GE (NYSE: GE), joined an existing group of financial institutions in a loan facility for Sterling Resources Ltd. (TSX–V:SLG). Of the GBP 105 million senior secured loan, GE Energy Financial Services has committed GBP 26.1 million.The Sterling transaction is GE Energy Financial Services' first development financing in the North Sea, complementing the existing focus of its oil and gas team. Since 1991, GE Energy Financial Services' Oil and Gas team has provided more than $4.5 billion in partnership equity and debt to independent private and public oil and gas operators in the United States. The oil and gas team is active in all major onshore basins and in the Gulf of...

    Read Full Press Release
    • GBP 105 million

      senior secured loan facility

    • First North Sea

      development financing

    Close
    2010
    Financing
    Sandersville Power Plant
    Power
    Gas
    Georgia, US

    ArcLight Acquires 640-MW Georgia Power Plant with $98 Million in Financing Led by GE Energy Financial Services

    SANDERSVILLE, GA., Jul 12, 2010 — ArcLight Capital Partners, LLC, through its wholly–owned affiliate AL Sandersville Holdings, LLC, has acquired a 640–megawatt generation facility located in Sandersville, Georgia from KGen Power Corporation for $130 million. GE Energy Financial Services, a unit of GE (NYSE:GE), closed financing as the lead lender of the $98 million in senior secured credit facilities partially financing the acquisition.Built in 2002, using eight 80–megawatt GE simple–cycle gas turbines, the Sandersville plant supplies power into the southeastern power market, particularly Georgia, during periods of peak demand or supply volatility. Sandersville is strategically located near four other facilities in Georgia owned by ArcLight through its affiliate Mackinaw Power, LLC, which have...

    Read Full Press Release
    • 640 mw

      Georgia power plant

    • Eight

      80–megawatt GE simple–cycle gas turbines

    Close
    2010
    Financing
    Knox Energy, Inc.
    Oil & Gas
    N/A
    Ohio, US

    GE Unit Expands Oil & Gas Investing - Introduces Loans for Development Drilling Unit

    COLUMBUS, OHIO, Oct 25, 2010 — GE Energy Financial Services, a unit of GE (NYSE: GE), announced today that it is expanding its oil and gas reserves investing business by offering loans for development drilling. In its first transaction involving this new product, GE Energy Financial Services has made a loan to Knox Energy, Inc. –– an exploration and production company based in Columbus, Ohio –– for drilling natural gas wells in central Ohio.Knox Energy will use the proceeds from the debt financing, for which financial details were not disclosed, to refinance its debt and provide capital to drill more shallow wells in a mature producing region."While we have offered reserves–based equity for more than a decade, this transaction with Knox Energy represents growth into a new...

    Read Full Press Release
    • Introduction of

      new loan product for development drilling

    • Knox Energy

      signed on as first customer

    Close
    2008
    Financing
    Fotowatio
    Renewable
    Solar
    Madrid, Spain

    Sparking European and US Solar Power Expansions, GE and Grupo Corprativo Landon to Invest US $350 Million in Leading European Solar Company

    MADRID, SPAIN, Jul 31, 2008 — GE Energy Financial Services, a unit of GE (NYSE: GE), and Grupo Corporativo Landon announced today they will invest about US $350 million (€225 million) in Fotowatio, one of Spain's largest and most successful solar power project developers. Fotowatio owns, operates and is developing almost 960 megawatts of solar projects in the fast–growing solar power markets of Spain, Italy and the United States. Existing investors in Fotowatio comprise investment fund Qualitas Venture Capital and Fotowatio's management. {{quote}} "GE has all the right ingredients to succeed in solar: capital, technology, research and ecomagination." Ecomagination is GE's program to help its customers meet their environmental challenges while expanding the company's own...

    Read Full Press Release

    Sparking European and US Solar Power Expansions, GE and Grupo Corprativo Landon to Invest US $350 Million in Leading European Solar Company

    "By facilitating the growth of one of the solar industry's leading developers, this investment gives us immediate access to attractive solar markets in Europe and the United States and will form an important part of GE's broader strategy to become a major player in solar power."
    — Alex Urquhart President and CEO of GE Energy Financial Services
    • $235 million

      Investment in equity and convertible debt

    • 0.32

      stake in Fotowatio

    Close
    2008
    Financing
    Sevan Voyageur
    Oil & Gas
    N/A
    Arendal, Norway

    More Oil On the Way Thanks to GE, Norway's Sevan Marine Scottish Company, Chinese and Other International Shipyards

    ARENDAL, NORWAY, May 5, 2008 — Two units of GE (NYSE: GE) are joining forces with oil drilling and production technology company Sevan Marine ASA of Norway, Oilexco North Sea Ltd. of Scotland, and a Chinese and other international shipyards to deploy an innovative cylindrical floating oil production, storage and offloading unit that can process 30,000 barrels of crude oil per day and store 300,000 barrels.Sevan Marine's affiliate Sevan Pte Ltd signed an agreement for a US $300 million senior debt project finance facility for the Sevan Voyageur with mandated lead arrangers GE Energy Financial Services and GE Transportation Finance. GE Capital Markets will syndicate the facility, fully underwritten by the lead arrangers, to a limited group of international banks. Norway's export credit agency, GIEK, has...

    Read Full Press Release

    More Oil On the Way Thanks to GE, Norway's Sevan Marine Scottish Company, Chinese and Other International Shipyards

    • $300 million

      Senior Debt Project Finance Facility

    • 300,000 barrel

      Oil Storage Capacity

    Close
    2007
    Financing
    East Toba River/Montrose Creek Run-of-River Hydroelectric Generating Facilities
    Renewable
    Hydro
    British Columbia, Canada

    Plutonic and GE Close $470 Million Credit Facility; Financing of 196 MW Run-of-River Hydroelectric Project Completed

    VANCOUVER, BRITISH COLUMBIA, Nov 8, 2007 — Plutonic Power Corporation (Plutonic) (PCC–TSX) and a Canadian affiliate of GE Energy Financial Services, a unit of GE (NYSE: GE), announced today that a $470 million senior secured credit facility for the Toba Montrose General Partnership has been closed with a syndicate of financial institutions. This complements the $190 million in equity and other financial instruments that closed last week and completes funding for construction of the 196–megawatt East Toba River/Montrose Creek run–of–river hydroelectric generating facilities, 190 kilometers northwest of Vancouver at the headwaters of the Toba Inlet north of Powell River.The project's credit facilities were co–arranged by The Manufacturers Life Insurance Company (Manulife) (TSX, NYSE: MFC) and GE...

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    Plutonic and GE Close $470 Million Credit Facility; Financing of 196 MW Run-of-River Hydroelectric Project Completed

    • 0.6

      economic interest

    • 49–percent

      equity interest

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    2006
    Financing
    Pakini Nui Wind Project
    Renewable
    Wind
    Hawaii, US

    World-Class Hawaiian Wind Farm, Southern Most in the US, Financed by GE Energy Financial Services

    SOUTH POINT, HAWAII, Sep 13, 2006 — GE Energy Financial Services announced today that it is financing the construction and operation by Tawhiri Power LLC of the southern–most wind farm in the United States. Powered by strong prevailing trade winds, the 21–megawatt Pakini Nui Wind Project is at South Point, one of the world's windiest habitable locations, on the island of Hawaii (the "Big Island").GE Energy Financial Services is providing debt and equity financing during the project's development, construction and operation. Additional financial details were not disclosed.The wind farm will annually produce electrical energy estimated to be sufficient for more than 10,000 homes and to reduce greenhouse gas emissions by more than 22,000 tons per year, compared with equivalent fossil fuel...

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    • 21 megawatt

      Hawaiian wind farm

    • 14

      1.5 megawatt wind turbines

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    2005
    Financing
    Katahdin Power Holdings, L.L.C.
    Power
    T&D
    Massachusetts, US

    Second Major Finaning for ArcLight Capital Partners Arranged by GE Energy Financial Services

    STAMFORD, CONN., Dec 28, 2005 — GE Energy Financial Services announced today that is has completed the financing and syndication, with its affiliate, GE Capital Markets, Inc., of a $72.8 million senior debt facility for a portfolio of eight power and transmission projects owned by ArcLight Capital Partners. This is the second major financing led by GE Energy Financial Services and GE Capital Markets for ArcLight.In this transaction, Energy Financial Services underwrote and structured the senior debt facility for Katahdin Power Holdings I, LLC and Katahdin Power Holdings II, LLC, subsidiaries of the funds that ArcLight manages. General Electric Capital Corporation is served as the Administrative Agent for the debt facility, while GE Capital Markets was the Sole Lead Arranger and Sole Bookrunner for the syndication,...

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    • Eight

      power and transmission projects

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    2005
    Financing
    Lincoln Generating Facility
    Power
    Gas
    Manhattan, Illinois, US

    GE Commercial Finance's Energy Financial Services Unit Structures and Underwrites Financing of Power Plant Acquisition

    MANHATTAN, ILL., Mar 28, 2005 — GE Commercial Finance Energy Financal Services announced today that it had structured and underwrittern the financing of two private equity funds' acquistion of the Lincoln Generating Facility, a power plant in Illinois.ArcLight Energy Partners Fund II, L.P. and Tyr Capital, private equity investors, acquired the Lincoln Generating Facility from Allegheny Energy Supply. ArcLight Energy Partners Fund II, L.P. engaged Energy Financial Services to structure and underwrite $143.9 million in debt to partially fund the acquisition. The financing comprised $122 million in senior secured term loans and up to $21.9 million in letters of credit. Lincoln is a 640–megawatt gas–fired, peaking power plant in Manhattan, Ill. It sells its generation capacity, energy output, and...

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    • 640 mw

      gas–fired, peaking power plant

    Close
    2005
    Financing
    Sevan Production AS
    Oil & Gas
    N/A
    Brazil

    GE and ANZ Investment Bank Arrange US $120 Million Debt Facility for Sevan's Marine Innovate, High Tech Floating, Storage, Offloading Unit to Be Chartered to Petrobras

    BRAZIL, Dec 13, 2005 — Three GE financial businesses and ANZ, acting as joint Mandated Lead Arrangers, and Sevan Production AS, announced the signing of a US$120 million senior debt project finance facility for Sevan's first floating oil production, storage and offloading (FPSO).The SSP Piranema will be deployed offshore Brazil under an 11–year charter with Petrobras. The innovative, cylindrical shaped FPSO is designed for all sea environments and will produce light crude for Petrobras. The SSP Piranema will be equipped with a processing plant capacity of 30,000 barrels of oil per day, a gas injection plant with compression capacity of 3.6 million cubic meters per day and an oil storage capacity of 300,000 barrels. The SSP Piranema is under construction at the Yantai Raffles shipyard in China....

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    GE and ANZ Investment Bank Arrange US $120 Million Debt Facility for Sevan's Marine Innovate, High Tech Floating, Storage, Offloading Unit to Be Chartered to Petrobras

    • 30,000 barrel

      Processing Capacity Per Day

    • 300,000 barrel

      Oil Storage Capacity

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