Macquarie Asset Management has provided a $450m (€386m) financing facility to US power developer Sandow Lakes Energy Station (SLES) to support the construction of a 1.2GW combined cycle gas turbine project in Texas.
Macquarie said the financing enables SLES to secure long-lead time equipment for the new power project in Lee County.
Harlan Cherniak, head of Americas infrastructure debt at Macquarie Asset Management, said: “We are excited to deliver a financing solution that addresses the unique challenges of today’s power and digital infrastructure markets.
“This $450m facility reflects the continued strategic expansion of our US infrastructure debt business as we continue to establish the Credit & Insurance division as a global leader in the essential asset-based credit market.”
Matthew Sweeney, managing director at Macquarie Asset Management, said: “This transaction underscores our commitment to supporting experienced management teams and sponsors with innovative solutions that enable the growth of digital infrastructure.
“Our extensive infrastructure expertise makes us the logical partner to provide a financing solution that addresses the unique demands being placed on the electric grid.”
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