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Louis Dreyfus Energy, a nascent business group of Louis Dreyfus in Wilton, Conn., will look to acquire generation or natural gas assets under the right conditions, Paul Addis, ceo, told PFR. "We hope to be able to acquire strategic assets that will provide us with a solid footing in the market place," he says. The firm is evaluating strategies to re-enter the electricity and gas trading market, he adds. Louis Dreyfus was previously involved in energy trading in the U.S. via a joint venture with Duke Energy.

Arlington, Va.-based AES faces an uphill task in its attempts to get banks to agree to a re-worked $1.6 billion loan package, even if it gets bondholder agreement to exchange their $500 million of debt for longer term notes and cash, according to bankers. Last week the company extended the deadline for bondholder approval a third time to Dec. 6, because it didn't have the requisite 80% approval on all the tranches. PFR went to press prior to the bondholder deadline. The bondholder exchange is a prerequisite for bank agreement to the $1.6 billion loan package (PFR, 10/14).

Reliant Resources is likely to launch some form of restructured loan package for its bank creditors to digest before year-end, according to a banker involved in talks centered on $5.7 billion in corporate debt and synthetic leases that needs to be reworked. The deal has been hotly awaited for much of the year--and was expected much earlier this fall (PFR, 8/19--not least because a key part of the debt is a $2.9 billion bridge loan that matures mid-February.

Tractebel Power's planned $220 million non-recourse financing for its 343 MW gas-fired plant in Ennis, Texas, is likely to wither. Industry officials say the gulf between what Tractebel will accept and what the current bearish project finance market will buy is probably too wide to get a deal off the ground.

An Electrabel-led consortium expects to ink a roughly EUR900 million seven-year loan within the next few days to part finance its EUR874 million acquisition of Interpower, a 2.6 GW portfolio of Italian power plants it is buying from Enel. Roughly half of the funds will be used to finance the acquisition, with the remainder earmarked to repower and develop a number of the plants.

InterGen has iced plans to raise a $510 million project loan via Citibank to part finance the construction of Carioba, a $700 million, 945 MW natural gas-fired power plant in Sao Paulo, Brazil.

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

A consortium comprising International Power, Mitsui and Tokyo Electric Power Co. bid some $300 million more than its only rival TotalFinaElf in the auction for Abu Dhabi's Um Al Nar plant late month last, say bankers.

Abbey National Treasury Services (ANTS), one of the most active players in the U.K. power project finance market over the past few years and an emerging force in the U.S., is pulling the plug on its project finance business.

Sempra Energy Trading, the Stamford, Conn.-based energy trading arm of Sempra Energy, has agreed to purchase the natural gas trading book of CMS Marketing Services & Trading in Houston for approximately $17 million. Doug Kline, director of public relations at Sempra Energy in San Diego, says the deal is expected to be finalized by year-end. The purchase "further strengthens Sempra Energy Trading's natural gas business in the United States," he comments. Jeff Holyfield, a CMS spokesman in Jackson, Mich., declined comment.