Tractebel Power is looking to arrange financing for the construction of a 343 MW natural gas-fired combined-cycle plant in Ennis, Texas, and has awarded lead slots to Denver-based CoBank and London-based Abbey National Treasury Services, say project bankers. While it is unusual for a European bank without a U.S.-based project finance team to lead an American project loan, one banker notes that because Tractebel Power is the subsidiary of a large European utility it has strong lending relationships in Europe. Bankers declined comment on the likely dollar size of the financing, or any of the terms, beyond saying the deal is unlikely to reach the market before June. Officials at Abbey and CoBank declined to comment.
May 12, 2002