GE announced it is anchoring a lending group for Invenergy to finance construction of its 584-megawatt Nelson Energy Center in Illinois . In a release, the Company noted that the plant will operate with GE's 7F gas turbine technology, with support of a long-term GE maintenance services agreement. GE Energy Financial Services served as the administrative agent, bookrunner and - through GE Capital Markets, Inc. - as primary lead arranger of the senior secured credit facilities. GE Energy Financial Services , ING Capital and Siemens Financial Services, Inc. are providing construction and term loans for the plant, under construction in Rock Falls , about 120 miles west of Chicago . ING Capital served as joint lead arranger and documentation agent. Financial details were not disclosed. Invenergy Development Company , a joint venture between an affiliate of Invenergy and investment firm Stark Investments, is building the plant and plans to begin commercial operations to sell power into the PJM wholesale market in early 2015. Invenergy Services, an affiliate of Invenergy , will operate and maintain the plant. "This transaction reinforces GE's unique ability to connect financing and technology to serve a common customer, expands our relationship with longtime customer Invenergy to lead arranging and grows our debt portfolio," said Carl Peterson , a managing director and Debt Origination Leader at GE Energy Financial Services . In addition to two GE gas turbines, the plant will use two GE A10 steam turbines. Invenergy has entered into a Site Change Agreement with GE to modify turbine and control systems. For example, GE is upgrading the units with GE's Mark VIe software controls technology. Invenergy also has entered into a Contractual Services Agreement with GE, to provide long-term maintenance and engineering services for the plant's GE equipment. GE will install OpFlex model-based controls software. ((Comments on this story may be sent to firstname.lastname@example.org ))
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