News

Caithness Energy Announces $1.6 Billion Debt and Equity Financing for Guernsey Power Station

August 30, 2019

New York - Caithness Energy, a privately-held Independent Power Producer specializing in the development, acquisition, operation, and management of renewable energy and natural gas development projects, announced the closing of a $1.6 billion financing to develop an 1,875 megawatt combined-cycle natural gas electric generating facility in Guernsey County, Ohio.

A Paul Hastings team, led by

Mike Huang

Holly Snow

and

Jason Hill

, advised Caithness on the formation of the joint venture with Apex Power Group to develop the project and on approximately $600 million of equity and mezzanine financing for the construction of the project. The project also concurrently raised approximately $1 billion in committed senior debt financing for construction of the project. The Paul Hastings team also included associates

and

.
Using state-of-the-art combined cycle technology and a dry cooling system, Guernsey Power Station will be a cost-efficient, fuel-efficient plant that protects air quality and conserves water. The plant is expected to be the largest east of the Mississippi.

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