Project Finance: Practical Case Studies

projects connecting the grid systems and their components, the Philippine Department of Energy, the principal policy-making body ...

al grid, improve and expand transmission facilities, and, subject to technical constraints, provide the central dispatch of all ...

develop an international financing plan. Preparation for the project included acquisition of both a site for the power plant and ...

Project ownership As shown in Exhibit 11.3, Quezon Power, Inc., a Cayman Islands corporation, was owned at the time of financing ...

InterGen was formed in 1995 by subsidiaries of Bechtel Enterprises and Pacific Gas & Electric (PG&E) to develop, own and ...

financing be provided by US banks. Nations Bank also underwrote 25 per cent of the US Eximbank-guar- anteed construction loan. O ...

tor, taxpaying entity whose shareholders include commercial banks, industrial companies, and financial service companies. Its st ...

an Engineering and Procurement Contract with Overseas Bechtel Incorporated (OBI), covering engineering, equipment procurement a ...

Management Services Agreement Guarantee, InterGen guaranteed the obligations of its Philippine affiliate. Description of additio ...

Onshore Trustee and the Intercreditor Agent entered into the Intercreditor Agreement to gov- ern the relationships among the len ...

Other project documentation Environmental compliance An Environmental Impact Statement was submitted to the Department of Enviro ...

of the power output be distributed locally, the plant has made a contribution to the quality of life in the local community. At ...

For the Base Case Projected Operating Results (see Exhibit 11.5), revenues from the sale of electricity, transmission line paym ...

QUEZON POWER, THE PHILIPPINES Exhibit 11.5 Base case projections Year ending 31 December 2000 2001 2002 2003 2004 2005 2008 2007 ...

Operating risks Although the plant was to use proven technology, and would be operated and maintained by companies with signific ...

generation facility to take all forms of pulverised coal and signed con- tracts with two Indonesian coal suppliers. PPA counterp ...

Power industry restructuring risk The ongoing restructuring of the Philippine energy and power sector, discussed above, was not ...

QUEZON POWER, THE PHILIPPINES facilities could have been accelerated. There was no assurance that the exercise of remedies, incl ...

ciated with the realisation of security interests, which may be compounded in countries with insufficient creditor legislation. ...

senior debt for required project modifications; other debt, subject to satisfaction of debt-service-coverage-ratio tests; and f ...