The energy financing arm of Fairfield conglomerate General Electric provided $73 million to finance power plants in Connecticut and Illinois.
GE Energy Financial Services lent LS Power the money to recapitalize the 225-megawatt natural-gas fired Wallingford Power Plant. The plant operates as a peaker, providing power only when electricity demand is high.
The $73 million also helps LS recapitalize two natural-gas fired plants generating 840 megawatts in Illinois.
The financing move grows GE Energy Financial Services natural gas power portfolio to $6.3 billion and 72 gigawatts of generating capacity.
