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  • Wilmington, Del.-based Delmarva Power & Light has tapped its $1.5 billion credit facility to finance working capital expenditures in lieu of commercial paper.
  • BayernLB, Calyon and Natixis joined by KfW, National Bank of Abu Dhabi and Standard Chartered were set to close on a $900 million financing for Shuweihat S2--a $2.7 billion greenfield 1.5 GW/100 million gallons per day IWPP in Abu Dhabi last week.
  • E.ON is planning to swap assets and generating capacity with GDF SUEZ subsidiary Electrabel.
  • Americas
  • Gloucester, Mass.-based Free Flow Power, a hydrokinetic developer started by a group of ex-UBS bankers, is talking to strategic partners and looking for equity investors for its maiden 100 run-of-river hydro projects totaling some 3 GW.
  • E.ON is planning to swap assets and generating capacity with GDF SUEZ subsidiary Electrabel.
  • NordLB and Export Development Canada have wrapped $132 million of financing supporting InterGen’s purchase of a Mexican liquid natural gas pipeline and a gas compression facility.
  • EarthFirst Canada is taking bids tomorrow for the sale of the company or its projects following its November Companies Creditor Arrangement Act filing. Separately it has also retained Marathon Capital to explore the sale of 144 MW of Vestas turbines.
  • Atlanta, Ga.-based Southern Power, a wholesale energy provider and subsidiary of Southern Co., will tap the credit markets to finance a portion of a $350-400 million 720 MW gas-fired plant in Grover, N.C. Earl Long, assistant treasurer in Atlanta, says the company will use a combination of commercial paper, unsecured senior debt and other credit arrangements to finance a portion of the plant.
  • Midstream company El Paso Corp. has issued $500 million of five-year notes priced at 12% in what is the first high-yield issue since Oct. 30.