Macquarie Asset Management announced it has provided a $450 million bilateral facility to Sandow Lakes Energy Station, supporting the construction of a 1.2-gigawatt combined cycle gas turbine asset in Lee County, Texas.
The financing solution enables the borrower to secure essential long-lead time equipment, including two Siemens SGT6-9000HL gas turbines, advancing the development of a new power project designed to supply electricity to energy-intensive infrastructure, Macquarie Asset Management said on Oct. 28.
"The exponential expansion of digital infrastructure in turn has resulted in the need for additional energy generation. As the power and transmission grids strive to maintain sufficient capacity and balance intermittent generation, demand for CCGT equipment has surged, with the timeline and delivery queue for new orders extending into the 2030s," it said.
Macquarie Asset Management said it has structured an innovative facility supporting the procurement of critical long-lead time equipment and site works in parallel with digital infrastructure development, enabling SLES to provide certainty on the timing of power availability to energy-intensive offtakers.
Sandow Lakes Energy Company is an independent power developer.
