ST. AUGUSTINE, Fla.—NTE Energy has mandated banks to lead debt financing for NTE’s Reidsville Energy Center.
Credit Agricole Corporate and Investment Bank and Sumitomo Mitsui Banking Corporation will arrange financing for the 475-megawatt natural gas-fired power plant under construction in Rockingham County, North Carolina.
“NTE is excited to partner with these industry leaders to lead the financing of the Reidsville Energy Center,” said Seth Shortlidge, CEO of NTE Energy. “Joining with these world-class financial institutions is an important milestone in our mission to bring cleaner, more efficient and reliable power to the Carolinas.”
Once in operation, Shortlidge noted, the Reidsville Energy Center will have the capacity to provide power to more than 400,000 homes. Construction of the facility is expected to create approximately 500 construction jobs as well as two dozen permanent positions to handle daily operations, making a positive impact on the local economy.
The facility’s construction follows NTE’s opening of two similar power plants last year. The 475-megawatt Middletown (Ohio) Energy Center opened in May 2018, followed by the 475-megawatt Kings Mountain (North Carolina) Energy Center in August. NTE also has several other facilities in various stages of active development, including natural gas-fired plants in Killingly, Connecticut; Gastonia, North Carolina; and Anderson County, South Carolina; as well as the Fayetteville Solar Energy Center, a 30-megawatt facility that will provide clean, renewable energy to communities served by NTE.
About NTE Energy
Based in St. Augustine, Florida, NTE Energy is a leading energy developer and power supplier, providing communities and other wholesale customers with reliable, low-cost, environmentally responsible energy solutions. Through its affiliates, the NTE team develops electric generation facilities, executing all aspects of project development from initial market and site evaluations to permitting, financing, construction and operation. For more information about NTE Energy, visit www.nteenergy.com.