COMPLETED
PROJECT:
FREEPORT
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Red Rock announced on February
10, 2004 it completed the construction financing
of the Village of Freeport Unit II Electric Generating
Station by securing the financial participation
of Harbert Corporation.
The power plant was declared
commercial on July 1, 2004 to support the Long
Island Power Authority's summer 2004 peak load
requirements. Red Rock sees this project
as a validation of its continued success in the
turbulent energy and power industry.
The Village of Freeport
Unit II is a 47 MW gas-fired General Electric LM6000
SPRint generating station located adjacent to the
recently completed Freeport Electric owned and operated
sister unit. A long-term energy tolling agreement
has been entered into with Long Island Power Authority
and will support the long-term project financing
of the facility. Red
Rock's team was ably assisted on engineering and
technical matters by the Long Island based power
consulting firm DJ Kettler & Associates and
by project counsel King & Spalding LLP.
Inquiries regarding this development
should be directed to David Smith, Managing Director
at david@rrpower.com.
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