Developers of a 1,250 MW natural gas-fueled combined-cycle generation facility in Northern Illinois said they had finalized $1.3 billion in financing for the project. 

Illinois electric generation

Competitive Power Venture Inc’s (CPV) Three Rivers Energy Center is planned for Grundy County, near Chicago, where it will sell enough power into the PJM Energy Market to serve up to 1.25 million homes and businesses in Northern Illinois. 

Financial closing on CPV Three Rivers was completed in a partnership with General Electric Energy Financial Services, Osaka Gas USA Corp., Axium Infrastructure Inc, and Harrison Street Real Estate Capital LLC. The private investment included $875 million of senior credit facilities from a group of 14 international financial institutions as well as investment from equity...