Calpine and GE Energy Financial Services have secured a $844.5m loan to fund the construction of the 619MW combined-cycle Russell City Energy Center (RCEC) in California, US.
The proposed project consists of two 'F-Class' combustion turbine-generators; two multi-pressure, supplementary-fired heat recovery steam generators; a single 3-pressure, condensing steam turbine-generator; and a hybrid, wet/dry plume-abated mechanical draft cooling tower.
Pacific Gas and Electric has signed a ten-year power purchase agreement to buy the complete power generated from the natural gas-fired plant.
Commercial operations are expected to begin at the plant in mid-2013.
RECE will be owned in the ratio of 75% and 25% by the affiliates of Calpine and GE Energy Financial Services respectively.
