Located on a 110-acre site, the natural gas-fired, combined-cycle power plant includes two 525MW generation blocks, each comprising two GE 7FA combustion turbines, two heat recovery steam generators, as well as one GE steam turbine.
Calpine chief executive officer Jack Fusco said, "The addition of Guadalupe Energy Center to our fleet at a discount to replacement cost, and at a time when electric demand in ERCOT is increasing and the reserve margin is tightening, demonstrates our commitment to making disciplined capital allocation decisions to drive shareholder value."
The Guadalupe purchase was funded with a $425m incremental Term Loan B at Calpine Construction Finance Company (CCFC) and cash on hand.
The add-on to CCFC’s existing 8.5-year, first lien senior secured term loan priced at LIBOR plus 250 basis points and was offered to investors at an issue price of 98.75%.
