Industry News
Conduit Sponsors Loan for Expansion of Jamaica Energy Partners
30 June 2010
(LAVCA) June 30, 2010 – Energy-focused private equity firm Conduit Capital Partners is sponsoring a loan to finance an expansion of Jamaica Energy Partners’ (JEP) power generation capacity by 65MW to 190MW. The International Finance Corporation (IFC) is the lead arranger on the $95m syndicated loan.
In June 2009, Conduit bought the Jamaican assets back from Basic Energy, a privately-owned group with its concentration of assets in the Dominican Republic. The transaction included the 100% ownership of JEP with rights to an expansion in Jamaica for 66 MW, the 55% ownership in Pedregal and a 55 MW thermal power generator in Panama.
“We are currently focusing on the finalization of the syndication process, with the goal of a financial closing in September 2010, and plant operations beginning by December 2011,” noted Juan Paez, Partner at Conduit Capital Partners. The new facility will be 100% contracted with the local utility under a long-term PPA for 20 years. Additional lending partners cannot be disclosed at this time, but support will likely come from development finance institutions (DFIs) and export credit agencies (ECAs).
You may be interested in...
-
BTG Pactual-backed V.tal Launches Tecto Data Centers in Brazil; TC Latin America Partners Launches USD450m Joint Venture for Mexico Nearshoring
-
Thanks For Joining Us in NYC; Late Stage Uptick?
-
LAVCA Week 2024 Recap; Warburg Pincus Invests USD125m in Brazil’s Contabilizei
-
See You In NY in 2 Weeks for LAVCA Week 2024; Car Rentals & Gig Workers – An Interview with Caravela Capital and OCN