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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 Amanda Levin, Reporter, at (212) 224-3292 or email: alevin@iinews.com

Tractebel and a consortium led by the Brazilian arm of Alcoa, have dropped Citibank as advisor for the financing of Estreito, a 1,087 MW hydroelectric facility they're developing in Brazil, in a bid to save costs. An official close to the situation explains Citibank was originally retained as bidding advisor when the pair was looking to win the Brazilian government's development tender, but since winning the mandate the project sponsors have decided to forego employing a financial advisor to minimize banking fees. Bankers at Citibank declined to comment and calls to the project sponsors were not returned by press time.

Atlanta-based Mirant is looking to divest nearly 2 GW of generating capacity in Massachusetts, Florida, Virginia, Georgia and Texas to achieve its goal of raising $300 million in 2003, says a New York banker. Mirant's strategy is to sell some of its non-strategic assets and then focus exclusively on the Northeast, Mid-Atlantic and the Midwest power markets. David Payne, a Mirant spokesman, declined all comment.

Three former InterGen executives have set up a boutique offering investment and restructuring advice in the North American, European and Asian power sectors.

NRG Energy is expected to transfer ownership of its 680 MW Killingholme facility in Lincolnshire, northeast England, to the gas-fired power plant's bank creditors within the next month. Some due diligence work is still required, but it's a done deal, say officials involved in the talks. Calls to Stuart Jackson, head of NRG's U.K. operations, and company spokespersons, were not returned by press time.

Deutsche Bank on Wednesday let go 11 project financiers in its 18-strong power, mining, oil and gas project finance group and plans to lay off the remaining seven once it completes a couple of ongoing deals. Ted Meyer, a Deutsche Bank spokesman in New York, confirmed the move, adding that it reflects tough market conditions. The firm will do its best to re-deploy certain individuals within the corporate finance division, he adds, declining further comment. Calls to Craig Orchant, head of project and structured finance, were not returned by press time.

AES Gener, Chile's largest thermal generator, has put several of its power plants up for sale in order to improve near-term liquidity and alleviate long-term bond refinancing concerns at the company, says Jason Todd, a Fitch Ratings analyst in Chicago. He declined to identify the assets, but says AES Gener already has entered negotiations with several interested parties and likely will execute a sale in the second half of this year. Calls to Kenneth Woodcock, spokesman at parent company AES in Arlington, Va., were not returned.

Cogentrix Energy has taken a credit rating hit because of offtake deals with two limping power players PG&E National Energy Group andDynegy and also a possible hit associated with a turbine investment for an Indiana project. In taking Cogentrix down to BB from BB plus, Standard & Poor's credit analyst Toby Hsieh says even though there are no defaults in the payments to the company the credit deterioration of the offtakers impacts Cogentrix.

Atlanta-based Mirant is planning to start talks on refinancing a $1.25 billion revolver next month. Bill Holden, senior v.p. and treasurer, told an earnings conference call the company is finalizing its five-year financial plan and when complete the information will be provided to lenders. He declined to discuss the likely outcome of the talks. Reworking the revolver, which matures in July, is pivotal for keeping the company solvent, according to a recent report from Fitch Ratings.

FPL Energy, the largest wind energy producer in the U.S., has been sounding out banks about a debt refinancing package to unlock the capital tied up in its 1,700 MW wind farm portfolio. One financier says the Juno Beach, Fla.-arm of FPL Group has been talking of figures around $400-500 million, a mark that would far surpass the usual small-ticket U.S. wind deals. Steve Stengel, a spokesman at FPL, says the portfolio has been financed on its balance sheet and was unable to provide comment on its possible future plans by press time.