Project: Aries Power Generation Project
Location: Western Missouri

Overview:

Aries is a 624-megawatt (MW) power plant (2x1 Combined Cycle /Duct Burning and Steam Augmentation). The borrower went into technical default due to deteriorating credit ratings. 

E3 Services Provided:

• Financial advisory services to the bank creditors for the project

• Extensive operations and maintenance (O&M) review

• Review of major maintenance projections

• Assessment of the ability of the project’s revenue stream to cover operations costs

• Ongoing project O&M reviews to the project’s lenders

Project Spotlights:

• E3 developed a market model and cash flow forecast model reflecting several off-take contract and merchant scenarios. The model also included estimates for swap breakage costs due to an interest rate hedge.