NTE Energy said July 22 that it has secured an investment for its three natural gas-fired power plants that are currently under development in Ohio, North Carolina and Texas.
This investment will allow NTE Energy to complete the development of these projects, valued at over $1.1bn, and begin construction of all three projects next year.
Capital Dynamics and Wattage Finance LLC, which is owned by a group of private investors and managed by an affiliate of Guggenheim Partners LLC, will work with NTE Energy to finalize the development and prepare the three projects for construction financing.
The projects are:
- Middletown Energy Center, a 518-MW combined cycle power plant in Ohio;
- Kings Mountain Energy Center, a 475-MW combined cycle power plant in North Carolina; and
- Pecan Creek Energy Center, a 237-MW simple cycle power plant in Texas.
NTE Energy’s three power projects are in the late stages of development and are expected to close financing and go into construction in the next nine to twelve months.
Seth Shortlidge, CEO of NTE Energy, said, “As we take this next important step in the development of these projects, we are proud to work with industry leaders, Guggenheim Partners and Capital Dynamics. The depth and talent at both Guggenheim Partners and Capital Dynamics only strengthens NTE Energy’s ability to bring clean, reliable and efficient power to the market.”
John Breckenridge, Managing Director of Capital Dynamics, said: “We are very pleased to work with NTE Energy and Guggenheim Partners on the development of these natural gas-fired power generation facilities and look forward to a successful long term partnership as we continue to actively diversify our portfolio of clean energy projects.”