Entegra Power to Receive Loan for Gas-Fired Blocks in US

11 August 2011 (Last Updated August 11th, 2011 18:30)

Entegra Power Group will receive a loan of $300m to fund two operating power blocks at its natural gas-fired Gila River Power Station in Arizona, US. The loan will be secured from WestLB, GE and Union Bank with BNP Paribas and CIT and will be used to repay debt and finance general corpo

Entegra Power Group will receive a loan of $300m to fund two operating power blocks at its natural gas-fired Gila River Power Station in Arizona, US.

The loan will be secured from WestLB, GE and Union Bank with BNP Paribas and CIT and will be used to repay debt and finance general corporate expenditure.

The 536MW power blocks 3 and 4 use two GE 7FA combined-cycle gas and GE steam turbines and provide electricity to the states of Arizona, New Mexico, Southern Nevada and Southern California.