InterGen has completed debt financing for its 50 per cent stake in the Callide C power plant in Queensland, Australia. The 840MW coal fired power station is due to enter service in May 2001. The remaining 50 per cent stake in the project is owned by CS Energy, one of three government-owned generating companies operating in Queensland.
Callide C is being built at the site of an existing power plant. The coal-fired project is being touted by Intergen as potentially one of the cleanest and lowest cost coal-fired generators in Australia. The plant, two 420MW units, is being built by a consortium including Mitsui, Toshiba and IHI Engineering. Coal will be provided from the adjacent Callide coal fields.
Project finance for the plant, $325 million, is being supplied by a syndicate comprising the National Bank of Australia, Bank of America and BNP Paribas. Commercial operation is scheduled for May 2001.