NTE Energy, which is in advanced stages of development for three gas-fired power plants in the U.S., said Aug. 1 that it has appointed energy industry veteran Josh Levine as chief financial officer.
With over 15 years of industry experience in project development and project finance, Levine will lead NTE Energy’s financial planning and oversight, capital structure management and project financing activities.
Levine was most recently vice president of project development at Energy Management Inc., where he was a member of the project finance team involved in managing both the debt and equity processes as well as due diligence activities for Cape Wind, an offshore wind energy project in Massachusetts. In this role, he also helped manage the development of renewable and natural gas energy generation projects, including a 400-MW combined cycle power project in Massachusetts.
Prior to Energy Management, Levine was a key member of the project development team at American Renewables, serving as one of the primary developers on the U.S.’s largest biomass facility, the Gainesville Renewable Energy Center, a 100-MW biomass energy facility in Florida.
“Josh’s project development successes coupled with his project finance experience make him well suited to serve as NTE Energy’s CFO,” said Seth Shortlidge, president and CEO of NTE Energy.
Levine said: “I’m excited to work with a strong and passionate team that’s focused on developing clean, reliable and efficient power. I look forward to helping lead NTE Energy’s next phase of growth.”
NTE Energy had announced on 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.