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Following is a directory of upcoming projects and related financing in the Latin American power sector. To report new deals or provide updates, please call Kasey Wehrum, Reporter-In-Training, at (212) 224-3226 or email: kwehrum@iinews.com

Japanese developer Mitsubishi Power reportedly has hired Société Générale in London to act as financial adviser on its bid land the 1 GW Saudi Aramco mandate. London bankers say Mitsubishi is one of some half a dozen developers that are expected to make final bids next month. Other bidders include Tractebel and International Power, notes one financier. "As U.S. independent power producers pull back from investing abroad, so Korean and Japanese contractors are filling the void," explains one financier in London. A SocGen banker declined comment and officials at Mitsubishi could not be reached for comment.

Saudi Aramco, and its financial advisor BNP Paribas, have set an end of April deadline for prospective developers to put in tenders to build-own-operate-transfer some 1 GW of cogeneration capacity in Saudi Arabia.

Mark Trott, head of power trading at Deutsche Bank in London, resigned at the beginning of last week. Reached at home in Shoreham, West Sussex, Trott says he plans to take six months to a year away from the market to recharge his batteries. "It's been a superb 10 years [as a power trader], but it's time for a break."

Lazard is beefing up its European power banking effort and has landed Trevor Nash, formerly a heavy hitter at Goldman Sachs, to lead the charge. The move follows a similar push by Lazard in the U.S. Bruce Wasserstein, ceo, began rebuilding the bank's power franchise early last year with the hire in New York of George Bilicic, managing director, from Merrill Lynch (PFR, 4/22).

Entergy last Wednesday signed a roughly EUR340 million ($332 million) project loan with a group of banks led by Credit Agricole Indosuez, Société Générale and the European Bank for Reconstruction and Development to fund the acquisition and modernization of its 70% stake in the Maritza East III power plant in Bulgaria. An Entergy official says the banks pre-syndicated the commercial tranche to a handful of other lenders. Calls to the lead arrangers were not returned.

American Electric Power last week pocketed $1.14 billion from issuing 57 million new shares; and because of oversubscription was able to direct allocations toward long-term investors. Geoff Chatas, v.p. corporate finances, says, "There were a lot of fundamental buyers." He attributes that interest, as opposed to short-term hedge fund players, to the fact the company has demonstrated its solid liquidity position through signing new loan facilities and also to the fact the offer price was $20.95. Last June, AEP issued equity at $40.90 per share.

Bank of Tokyo-Mitsubishi is planning to take a $16 million slice of the $72.5 million loan funding Alliant Energy Generation's acquisition of a 390 MW plant in Neenah, Wis., from Mirant. Mark Condon, cfo at Alliant Energy Generation, says the Japanese lender recently received credit approval to buy into the project loan and is expected to execute the deal later this month.

HypoVereinsbank in New York is looking to cut back its U.S. project finance book, but at the same time is still looking selectively at new deals. The exposure cuts are part of a bank-wide review to reduce risk capital by one third, says a Hypo banker, but he adds there are no specific targets for each department. The U.S. team is looking to reduce exposure through normal pay downs and also through selective asset sales. "It's not a fire sale because we don't have to go out there and junk stuff in to the market," he explains.

Landesbank Kiel is looking to beef up its New York branch lending operation and has been speaking to several project financiers about taking a senior energy slot, according to market officials. Calls to Drew von Glahn, who was recently drafted in to head up part of the build-up, were not returned. The rationale for the expansion and its potential size could not be determined.