PF Archive

T-Power CCGT reaches financial close

19 12 2008

International Power, Siemens Project Ventures and Tessenderlo Chemie have secured project financing from 10 banks for the T-Power 420MW CCGT greenfield project in Tessenderlo in Eastern Belgium. At financial close IP bought Advanced Power's 33% in the project for Eu23 million ($32.5 million), paid from its cash reserves. The total project cost is around Eu448 million, funded 85:15 debt-equity. The Eu440 million debt was...