Monday, February 8, 2010

Exploded Connecticut Power Plant Was a Goldman Sachs Deal

Goldman Sachs underwrote the $985 million Kleen Energy plant, where at least 5 died on Friday when the plant exploded. US Power Fund was the lead investor.

On June 13, 2008, US Power Fund II, along with affiliated EIF fund US Power Fund III, committed the majority of the construction equity in the 620 megawatt natural gas- and oil-fired combined-cycle power generation facility that was under construction in Middletown, Connecticut. This commitment followed the Fund's investment in the development of the project.

In March 2009, Project Finance, a Euromoney publication, awarded the Kleen construction financing the prestigious "2008 North American Single Asset Power Deal of the Year".

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