A number of project finance deals backing gas-fired combined-cycle greenfield facilities are likely to be launched in the fourth quarter, following a slowdown in new-build financing in the U.S., financiers tell PFR

Deals expected to launch in the coming months include the Advanced Power 1.1 GW South Field Energy project in Columbiana County, Ohio, the Clean Energy Future 940 MW Trumbull project in Trumbull County, Ohio and the NTE Energy 500 MW Reidsville Energy Center in Rockingham County, N.C.

Some arranger mandates have already been allocated, with GE Energy Financial Services leading a debt raise for the South Field project and BNP Paribas running the Trumbull financing.

Competition for deals is likely to be fierce given the slowdown this year in the number of development assets being financed in the U.S.

Lenders that typically back utility-scale solar and wind projects in the U.S. have also seen a reduction in deal flow, partly due to uncertainty over whether tariffs will be imposed on the import of solar panels and the step-down in the production tax credit.

One CCGT project which has stalled in its financing is the Panda Power Funds 990 MW Mattawoman project in in Prince George’s County, Md. The construction financing is said to be to attracting South Korean investors and the bank group arranging the debt has changed, with BNP Paribas  and Investec leading the deal and ICBC no longer participating. Whitehall & Co. is advising the sponsor on the equity raise ( PFR, 9/7).

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