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LS Power obtains financing for $550 million solar energy project
By Lisa Kerner
Charlotte, N.C., Feb. 29 - LS Power combined long-term institutional financing led by Prudential Capital Group with a shorter term bank financing led by Banco Santander SA to begin construction on its $550 million solar energy project known as AV Solar near Arlington, Ariz.
GE Energy Financial Services is participating as an equity partner, according to an LS Power news release.
The output of the 127 MW photovoltaic solar farm will be sold to San Diego Gas & Electric under a long-term power sales agreement.
LS Power is a power generation and transmission group based in New York.
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