Starwood Energy Group Global and green technologies developer Cate Street Capital have completed financing for a $275 million biomass power plant in Berlin. The construction loan, which will be converted to term debt, is being offered through a $200 million private placement of senior secured notes.
Equity financing for the Berlin Station is provided by Cate Street and by Starwood affiliates. Starwood also offered some debt financing for the project. Berlin Station, a 75-megawatt project scheduled to generate power by 2013, will sell electricity to Northeast Utilities’ Public Service of New Hampshire under a 20-year power purchase deal.
Click here for the release from PR Newswire.