Charlotte, NC-based Cogentrix Energy is prepared to commenceconstruction on a 816 MW natural gas-fired electric generationplant near Sterlington, LA. The company announced yesterday that ithad secured financing through Bank of America, N.A.

Ouachita Power had previously entered into a long-term tollingagreement with a power marketer to deliver natural gas to the newplant, and receive the off-take of the entire electrical outputfrom the new plant.

“The Ouachita Power Project financing is the fourth projectCogentrix has taken into construction in the last nine months,representing a combined total of over 2,200 MW of electricity andover $1.2 billion in project financing,” said David Lewis, CEO forCogentrix. “By any measure, this is a significant accomplishmentand one that we intend to build upon as we respond to thesignificant need for additional electric generation that exists inthe United States today.”

Cogentrix brought in the National Energy Production Corp., anEnron subsidiary, to serve as the engineering, procurement andconstruction contractor. Work will begin later this month on the100-acre site and the plant is expected to be in service by June2002.

Cogentrix develops, owns and operates electric generationfacilities and other power assets mostly within the United States.

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