Invenergy Completes Financing for Its 584 MW Project in St. Clair, Ontario

    CHICAGO, Sept. 14 /CNW/-- Invenergy Development Company LLC ("Invenergy")
announced the successful closing and syndication of project financing for its
St. Clair, Ontario electricity generation project.  The C$479 million
financing was conducted without an underwriting; rather, Invenergy assembled a
group of financial institutions to participate in the financing, all of which
provided their funding at the financial close.  The lenders are Allied Irish
Bank, Bayern LB, GE, Helaba, Lloyds TSB, Mizuho, Natixis, Nord LB, Royal Bank
of Canada, Royal Bank of Scotland, Sumitomo Mitsui Banking Corp. and Union
Bank of California.
    Royal Bank of Canada acted as financial advisor and will be the
administrative agent for the loan facilities.  Helaba and Natixis were named
co-documentation agents, and Bayern LB and GE were named co-syndication
agents.  James Murphy, Invenergy's Chief Financial Officer, stated "We are
very pleased to complete this unique financing.  In spite of difficult market
conditions, we were able to successfully oversubscribe this facility and
complete the transaction with competitive terms. Our self-syndication resulted
in significant savings for the Project."
    The St. Clair Project is a 584 MW combined cycle natural gas-fired power
plant located in St. Clair -- near Sarnia, Ontario.  The project has a 20-year
Clean Energy Supply Contract with the Ontario Power Authority.  The Project's
development was initiated by Invenergy in response to the Ontario Minister of
Energy's 2004 request for 2,500 MW of new, clean electricity generating
capacity in Ontario.
    About Invenergy Development Company LLC
    Invenergy Development Company is a joint venture between Invenergy
Thermal LLC and Stark Investments.  Invenergy Thermal LLC, and its affiliate,
Invenergy Wind LLC, develop, own and operate large-scale electricity
generation assets and have a portfolio of natural gas-fired and wind energy
electricity generation projects in various stages of operation, construction
and development in the US, Canada and Europe.  Invenergy has significant
expertise in the development, financing, construction, operations and long-
term management of power generation projects serving a wide range of clients
including utilities, load serving entities and industrials. Stark is a global
alternative investment firm providing multi-asset investment capabilities to
investors worldwide through a diverse array of fundamental and quantitative
    For more information visit

For further information:

For further information: James Murphy of Invenergy Development Company 
LLC, +1-312-224-1400 Web Site:

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