Cogentrix web site:
cogentrix.com
On home page, the scrolling recent news releases include this one -- Mississippi (LOL, I immediately think of Trent Lott -- campaign contribs, perhaps? With, without, via, through or any and all of the above ENE, perhaps? -g-) and PG&E, et al ...
Snip from news release below -- UNDATED, but refers to future as June 2001 -- "Construction to Begin in June 2001 on $490 Million Project"...
And note the offshore, "LLC" reference:
<<PG&E Energy Trading-Power, L.P. (PGET), a trading subsidiary of National Energy Group, Inc., previously
entered into a long-term agreement with Southaven Power, LLC under which PGET will deliver natural gas to and
accept the entire electrical output from the 810 MW facility. >>
Here's the link and full release cut/paste:
cogentrix.com
Cogentrix Finances Mississippi Generation Project
Construction to Begin in June 2001 on $490 Million Project
Charlotte, NC - Cogentrix Energy, Inc. has completed the financing for its Southaven Power electric generating
facility, which will be located in the city of Southaven, Mississippi. The financing, secured through a consortium
of lenders made up by Credit Lyonnais, Bayerische Hypo-und Vereinsbank, BNP Paribas, DG Bank, and ING,
allows construction of the 810 MW, natural gas fired electric generating plant to begin on schedule in June 2001.
Commercial operation of the facility is expected by June 2003.
Mr. David Lewis, Chairman and Chief Executive Officer for Cogentrix stated, “The financing of the Southaven
Power project brings to five the number of new projects that Cogentrix has in construction, adding almost 3000
megawatts of new generation to our portfolio. Our mission is to be the nation’s foremost high-performance,
low-cost independent producer of power. Recent industry data indicates that there are ten companies
responsible for more that 50% of the power projects currently under construction or that have recently begun
commercial operation in the United States. Cogentrix ranks fourth on that list. This ranking, combined with the
successful financing of our Southaven project, confirms that we are well on our way toward achieving our goal.”
Continuing, Mr. Lewis added, “As with each of our projects, we are committed to the local community. We look
forward to establishing ourselves as a valued member of the city of Southaven, DeSoto County and the State of
Mississippi business community. Congratulations to everyone involved in making this latest addition to the
Cogentrix family of projects a success.”.
The National Energy Production Corporation (NEPCO), a subsidiary of the Enron Corporation, will serve as the
engineering, procurement and construction (EPC) contractor for the project . Mobilization on the 40-acre site,
located to the southeast of the existing Entergy and TVA Freeport substations, is scheduled for June 2001.
PG&E Energy Trading-Power, L.P. (PGET), a trading subsidiary of National Energy Group, Inc., previously
entered into a long-term agreement with Southaven Power, LLC under which PGET will deliver natural gas to and
accept the entire electrical output from the 810 MW facility.
Cogentrix Energy, Inc., headquartered in Charlotte, NC, acquires, develops, owns and operates electric
generation and other power assets in the United States and internationally . Cogentrix has, in whole or in part,
equity interests in 27 facilities in 14 states with a total generating capability of approximately 7,000 megawatts.
------------------------
bia |
