Rijnmond will be the first independent power plant in northwest Europe since the 1996 European Union Electricity Directive.
The project will be financed through a $396 million long-term senior debt facility as well as working capital. InterGen and the mandated lead arrangers (MLAs) BNP Paribas and Societe Generale have secured commitments from a number of project finance banks to join the MLAs in underwriting the financing of the project. Deutsche Bank is the financial advisor.
The plant is being constructed by a joint venture of Bechtel Power and the Turkish construction company Enks. The turbines will be V94.3 turbines from Siemens. Construction started in mid-August 2002, and the plant is expected to reach commercial operations in late 2004.
