King & Spalding advised Oregon Clean Energy, LLC in the development of a contract for the engineering, procurement and construction of a greenfield 860 megawatt combined-cycle natural gas-fired generation facility in the Toledo, Ohio, suburb of Oregon. The financing for the transaction and the full notice to proceed under the contract occurred on November 14. The dollar amount of the transaction was not disclosed.
The $800 million clean energy power project, known as the Oregon Clean Energy Center, will occupy a 30-acre site in the city of Oregon and will consist of two Siemens SGT6-8000H gas turbines and one steam turbine. It will provide enough electricity to power 500,000 homes. The project is expected to be ready for commercial operation in 2017.
The King & Spalding team was led by Houston-based global transactions partner Scott A. Greer, with the assistance of associates Jonathan N. Katz and David Strickland.
Source: www.kslaw.com
