$119 million Refinancing of Elgin Energy Center
HOUSTON, TX – April 28, 2016 — Rockland Capital, LLC (“Rockland”) announced today that it has closed the refinancing of Elgin Energy Center, LLC (“Elgin” or the “Project”). GE Capital EFS Financing, Inc., BNP Paribas and CIT Bank, N.A. led the transaction.
The credit facility includes a five-year, $107.5 million senior secured term loan and an $11.5 million revolver. Proceeds from the new credit facility were used to refinance existing project debt and pay a distribution to Rockland.
Elgin is a 484 MW natural gas-fired, simple-cycle power plant located in the ComEd region of PJM and is part of a 1,166 MW portfolio of three Illinois power plants that was acquired in 2014 from Ameren Corporation.
About Rockland Capital
Rockland Capital, a private equity firm founded in 2003, is focused on the acquisition, optimization and development of companies and projects in the North American power sector. The firm manages Rockland Power Partners and Rockland Power Partners II and is located in Houston, Texas. For further information visit www.rocklandcapital.com.