InterGen completed the financing of a 300MW open cycle gas turbine (OCGT) development in Lincolnshire, England on February 27,2018.
Backed by Santander and Nord LB, the £100m project forms part of an expansion to InterGen’s Spalding Power Station in the county.
The Spalding OCGT unit won a 15-year, £22.50/kW capacity market contract from National Grid in December 2016. It is the first and only thermal plant project entered into the auction to be project financed. The unit is due to begin operations in 2019.
Operis is pleased to have performed an audit of the financial model, which included a review of the tax and accounting treatments.
