Tucuman & Loma Capana II Thermal Power Plants

Active

Prospective

The project entails the construction of two thermal power plants - Tucuman & Loma Capana II with capacity of 267 MW and 107 MW, respectively. The facilities will be located at Tucuman and Neuquen provinces, Argentina. These are new, greenfield projects launched under the Fast power initiative of the Government of Argentina's 'Fast Power' tender. Y-Gen Eléctrica S.R.L. and Y-Gen Eléctrica II S.R.L. are the special purpose vehicles created for the execution of the projects. As a result of a competitive tender, the SPVs won the right to develop the plants. Once operational, each project will benefit from a 10-year power purchase agreement (PPA) with the state-run wholesale electricity market administrator Compania Administradora del Mercado Mayorista Electrico SA (CAMMESA). General Electric and YPF Energia Electrica are the sponsors of the projects. As reported by IJGlobal, their ownership is divided as follows - approximately 67 per cent for YPF and 33 per cent for GE. Financial closure is estimated to have reached on 20 June 2017 as reported by Citi submission form. Financing comprises $94 million in equity and a $219.5 senior secured term loan with a pricing of LIBOR + 400 bps during construction and LIBOR + 650 bps after construction. The term loan was arranged by Citigroup, Credit Suisse and Export Development Canada. https://ijglobal.com/data/transaction/38463/tucuman-thermal-power-plant-267mw-and-loma-capana-ii-thermal-power-plant-107mw http://geenergyfinancialservices.com/press_releases/view/435 FC reported for 20 June 2017 by CitiGroup submission

Energy

World Bank Group

Project

Natural Gas, Geothermal, Power Generation (CCGT), Government, Automotive, Commercial