Built in 2002, using eight 80MW GE simple-cycle gas turbines, the Sandersville plant supplies power into the southeastern power market, particularly Georgia, during periods of peak demand or supply volatility.
Dan Revers, managing partner of ArcLight, said: “This asset is an important addition to our southeast gas power generation facility portfolio that is well positioned to benefit from the current macroeconomic recovery and pending energy and carbon legislation, as well as the unconventional gas boom in the US.”
GE Energy Financial Services, a unit of GE, closed financing as the lead lender of the $98m in senior secured credit facilities partially financing the acquisition.
Siemens Financial Services joined GE Energy Financial Services in providing the $98m in credit facilities comprised of a $78m term loan and a $20m letter of credit.
