October 20, 2021
British power company ContourGlobal has refinanced three thermal power plants in the Caribbean with a $124 million loan from Scotiabank, the lender's legal adviser, Clifford Chance, said in a press release.
The refinancing cane be increased through an accordion feature in case the plants enter new power purchase agreements (PPAs), Clifford Chance said. The plants each have a long-term PPA with government-owned entities with a combined generation capacity of 274 MW, according to the law firm.
British power company borrows $124 mln from Scotiabank to service debt at three thermal power plants